Business managers expect transparency from companies they do business with. The ability to trust vendors, suppliers and partners keeps operations running smoothly. Not all companies live up to their obligations, however. And when trust is broken, financial loss can result.
Real-estate giant Colliers International is facing a lawsuit concerning alleged violations of trust. Representatives of Mattress Firm claim that top employees of Colliers plotted to persuade the retailer to buy more than 1,500 over-valued rental properties.
According to the allegations, Colliers’ employees accepted bribes from developers. These employees also purportedly overestimated sales. They did this to make leases look more attractive. Mattress Firm believes they cheated the company out of massive funds through the use of high rent rates. According to the lawsuit, Colliers executives enjoyed vacations and luxury goods in the meantime.
Colliers International representatives claim their company values its responsibility to clients. They declined to provide more information in regards to the lawsuit, however. Still, Mattress Firm alleges that Colliers turned a blind eye to its employees’ actions and is therefore culpable.
Fraud and bribery can be devastating for businesses at any level. This is why an experienced attorney can make all the difference. While business managers are highly selective of companies to rely on, there are no guarantees that those companies will act honestly. When a company executive suspects fraud, legal support is available. Attorneys can help guide the business back to success. The advice and guidance they provide can also prevent lawsuits from arising to begin with.