Alex Deitch Settles with Mattress Firm

ATLANTA (Aug. 11, 2023) – Alex Deitch has announced that he reached a favorable binding settlement agreement with Mattress Firm in December, 2022, ending a six-year dispute in the courts in the State of Texas. After Mattress Firm sued Deitch, an Atlanta real estate broker, he counter-sued the Texas-based company for interfering with his longstanding relationship with Colliers, where he was a top-producing broker at the global commercial real estate company until 2016 and for interfering in his business relationships with many longstanding clients.

“This has been a ‘David vs. Goliath’ fight, and I am pleased to announce after fact-based discovery and legal proceedings highlighting the truth, I have finally been vindicated. I am very happy with the outcome. We always felt that Mattress Firm’s claims lacked merit, and my goal has been to return to focusing on real estate development,” explained Deitch.

Mattress Firm sued Deitch for development work on new stores because he was also a broker. But Deitch had clear written approval from Mattress Firm green lighting his development work, and Deitch worked tirelessly to fulfill Mattress Firm’s growth strategy. Deitch’s counterclaims against Mattress Firm survived multiple challenges at the trial court level, the Texas Court of Appeals, and, ultimately, the Texas Supreme Court.

According to Deitch’s attorneys Kevin Ward and Andrea Pawlak of Schulten Ward Turner & Weiss, LLP, “It became very clear that a trial was not going to be a good business decision for Mattress Firm. We were looking forward to putting Mr. Deitch’s counterclaims before a jury, but we are all very satisfied with the result reached outside of court.”

Deitch did not make any concession of wrongdoing and looks forward to restoring his reputation as a broker and developer. Since his departure from Colliers, Deitch has founded Falcon Realty Partners to focus on retail real estate development. Atlanta-based Falcon Realty Partners is developing high-profile retail projects throughout the country for national brands. With a nationwide reach, the company specializes in retail space including development, investment and management. Since its founding in 2017, Falcon Realty Partners has executed transactions in excess of $100 million.

Cautionary Note Regarding Forward-Looking Statements This press release contains “forward-looking statements” as defined in the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements often address our expected future business, plans, objectives and financial performance, and often contain words such as “goal,” “target,” “future,” “estimate,” “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “project,” “may,” “should,” or “will” and similar expressions to identify forward-looking statements. These forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from those projected or assumed, including, but not limited to, the risks identified in the “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Business” sections of our Annual Report on Form 10-K for the fiscal year ended December 31, 2016, as applicable, and the other risks identified from time to time in our other I press releases, reports and filings with the SEC. If any of our projections or assumptions prove to be incorrect, our actual results and the timing of certain events could differ materially from the forward-looking statements.