Date: 10-21-2010

Case Style: Gene Percudani v. Pocono Record

Case Number: 3651 CIVIL 2001, 2358 CIVIL 2002

Judge: Peter J. O'Brien

Court: Court of Common Pleas, Monroe County, Pennsylvania

Plaintiff's Attorney: Marshall Anders, Stroudsburg, Pennsylvania

Defendant's Attorney: Gayle Sproul, Levine Sullivan Koch & Schulz, L.L.P., New York, New York

Description: Gene Percudani and his companies, Raintree Homes and Chapel Creek Mortgage Banker, sued the Pocono Record on a libel theory claiming that a series of investigative articles published in 2001 about abusive home-sale practices, including use of inflated appraisals to sell homes for more than they were worth to those who could least of afford them. Percudani alleged he was falsely portrayed — and singled out — in the series by former Pocono Record reporter Matt Birkbeck detailing use of inflated appraisals to sell homes to residents of the metropolitan New York area for more than they were worth in the Poconos, resulting in massive home foreclosures for the homeowners, many of whom had marginal credit. Birkbeck was also a defendant in the suit.

Matt Birkbeck, who researched and wrote the series, "A Price Too High", noted the swiftness of the jury's verdict and called the series a great public service.

Defendants denied selling houses at inflated prices or any wrongful conduct and asserted truth as a defense.

Outcome: Defendants' verdict.

Plaintiff's Experts: Philip Waier, Bradley Hockman, Harvey Levin

Defendant's Experts: None

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