Allegations of unauthorized use of confidential business information have led to a federal lawsuit seeking to halt what the plaintiff describes as deceptive practices that could impact both clients and the broader marketplace for small business financing. The complaint was filed by Capital Gurus in the United States District Court for the District of New Jersey on March 9, 2026, naming Frank J. DiMattina Jr. and Vital Equity, LLC as defendants.
According to court documents, Capital Gurus alleges that DiMattina and Vital Equity engaged in the misappropriation of trade secrets under both federal law—the Defend Trade Secrets Act—and New Jersey state law. The plaintiff claims that these actions included theft and misuse of confidential client loan application data, which allegedly resulted in misleading outreach to Capital Gurus’ clients and diversion of business opportunities.
The filing outlines that Capital Gurus operates in a competitive national market for small business financing, relying on proprietary methods for compiling sensitive financial data and matching clients with lenders. The company asserts that its success depends on protecting this information through secured networks, encryption, multi-factor authentication, strict access controls, employee handbooks addressing confidentiality policies, non-disclosure agreements with staff, and confidentiality agreements with lending partners.
The dispute centers on a pattern observed by Capital Gurus beginning in early to mid-2025: after submitting client applications to authorized funding partners, clients reportedly received unsolicited communications from individuals not affiliated with those partners. These third parties—referred to as “Impersonators” in the complaint—allegedly contacted clients within hours or even minutes after application submissions using detailed knowledge of the applications’ contents.
One incident described involves a person identifying himself as “Mike Thompson” from “Vital,” who contacted a client soon after an application was submitted through Capital Gurus. Investigation by the plaintiff linked the phone number used by “Mike Thompson” to Frank J. DiMattina Jr., who is publicly listed as CEO of Vital Equity according to online profiles cited in the filing.
Further examples include emails sent from addresses associated with Vital Equity personnel such as “Peter Schwartz” and “Jake Faber,” each requesting sensitive financial documents from clients shortly after their applications were processed by Capital Gurus. In one case, it is alleged that an email referenced specific bank information only available through Capital Gurus’ systems. Clients reported no prior contact with anyone other than Capital Gurus or its authorized partners before receiving these solicitations.
The complaint states: “On information and belief, Defendants are improperly obtaining and/or accessing Capital Gurus’ Confidential and Trade Secret Information without Capital Gurus’ authorization.” It further alleges deliberate attempts by defendants to divert transactions for their own benefit at the expense of Capital Gurus’ revenue and goodwill.
Legal claims asserted include misappropriation of trade secrets under both federal (18 U.S.C. § 1836) and state (N.J.S.A. § 56:15-1 et seq.) statutes; conversion; common-law misappropriation/unfair competition; tortious interference with contract; and tortious interference with prospective economic advantage. The plaintiff argues that these actions were willful and malicious: “The repeated, coordinated, and concealed nature of Defendants’ acts demonstrates willfulness and malicious intent,” according to the filing.
Capital Gurus seeks substantial compensatory damages including lost profits; exemplary (punitive) damages; treble damages where allowed by statute; disgorgement of any unjust enrichment obtained by defendants; attorneys’ fees; pre-judgment and post-judgment interest; as well as injunctive relief barring further use or disclosure of its confidential information.
The attorneys representing Capital Gurus are Jonathan L. Israel (NJ Bar No. 039301993), Taylor Appling (pro hac forthcoming), and Mikle Jew (pro hac forthcoming) from Foley & Lardner LLP. The case is identified as Case No. 3:26-cv-02434.
Source: 326cv02434_Capital_Gurus_v_DiMattina_Jr_Complaint_District_New_Jersey.pdf
