In filings submitted today, Amrock, Inc., owned by Rock Holdings, Inc., claims it has evidence that HouseCanary, an analytics firm for property and real estate valuation, committed fraud during a $706.2 million jury verdict trial earlier this year. The alleged evidence, filed after HouseCanary’s own motion to halt Amrock’s investigation, were sworn statements supplied by two former employees of HouseCanary. HouseCanary’s motion has since been withdrawn.
The case centers on HouseCanary’s proprietary software, which Amrock claimed is defective. HouseCanary countersued on the grounds of misappropriation, and, in March, was awarded a $706.2 million jury verdict.
According to the San Antonio Express-News, Amrock was emailed by a former employee of HouseCanary one day after the jury verdict, alleging Amrock had been “lied to repeatedly,” among other claims, including that HouseCanary’s automated valuation model (AVM) was adapted from “Black Knight [Financial Services] AVM.” In its investigation, Amrock obtained sworn statements from the whistleblower, as well as a second former employee of HouseCanary. The employees’ names were not made public.
Amrock, formerly known as Title Source, filed their findings in Bexar County District Court in San Antonio, Texas.
Stay tuned to RISMedia for more developments.