Pennsylvania Record

Sunday, March 29, 2020

Langhorne financial services company alleges Texas law firm owes $1.7 million

Federal Court

By Marian Johns | Dec 10, 2019

Pelvicmesh

PHILADELPHIA – A Langhorne-based financial services company alleges a Texas law that financed transvaginal mesh litigation now owes it more than $1 million. 

Diamond Financial Solutions filed a complaint  Nov. 19 in the U.S. District Court for the Eastern District of Pennsylvania against The Potts Law Firm of Houston, alleging breach of contract and unjust enrichment.

According to the complaint, Acosta & Williams executed a promissory note on Dec. 31, 2012, with the defendant. The loan included advances for $250,000 up to a collective total of $1.5 million with a 20 percent interest rate, the suit states. An assignment agreement was signed by Acosta and the plaintiff on July 2 that granted Diamond Financial all rights and obligations under the note.

Diamond Financial alleges that the defendant has made no payment toward the $1 million in outstanding principal and minimal payments towards the accruing interest. As of Oct. 31, Diamond Financial alleges it is owed $1.7 million. 

Diamond Financial seeks monetary relief of $1.7 million, interest and all other just relief. It is represented by Louis Hornstine of Hornstine Law LLC in Bristol.

U.S. District Court for the Eastern District of Pennsylvania case number 2:19-CV-05420-AB

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U.S. District Court for the Eastern District of Pennsylvania