Cornerstone Capital Bank Prevails in Former Executive’s $140 Million Discrimination Lawsuit

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HOUSTON--(BUSINESS WIRE)--Sep 16, 2025--

A discrimination, retaliation, harassment and wrongful termination lawsuit filed by a former executive at Houston-based Cornerstone Capital Bank ended this week with the ex-employee dropping the lawsuit and walking away with nothing.

"It’s more expedient for some companies to pay money to settle litigation. But, when allegations are without merit and instead appear as intended to simply damage the reputation our team members have collectively built over the past 37 years, we did not capitulate," said Marc Laird, Cornerstone chairman and co-founder.

Manuel Valdes was terminated in January 2023 for various breaches of his fiduciary duties to Cornerstone. Cornerstone then filed a lawsuit to enforce the terms of Valdes’ employment agreement.

Several months later, Mr. Valdes filed counterclaims alleging discrimination, retaliation, harassment and breach of contract against Cornerstone and against Marc Laird and Adam Laird individually. In doing so, Valdes sought more than $140 million in damages.

Cornerstone and the Lairds resolved the case just before a jury was to hear the facts, with Mr. Valdes agreeing to take nothing.

“This resolution reflects a complete vindication that Cornerstone properly terminated Valdes’ employment,” said Adam Laird, Cornerstone Capital Bank's vice chairman. “The fact that Valdes is being paid $0, when he and his attorneys originally claimed Cornerstone, Marc and I damaged him by more than $100 million, speaks for itself.

"Cornerstone is happy to put this matter behind us, and we look forward to continuing to grow our mission to make a positive difference in the lives of others,” Adam Laird added.

Ahmad, Zavitsanos & Mensing (AZA) represented Cornerstone and the Lairds. Valdes was represented by Sanford Heisler Sharp McKnight as lead counsel.

Cornerstone Capital Bank is a premier national provider of residential mortgage finance, loan servicing and consumer, commercial and institutional banking services. Cornerstone is also the country’s leading provider of strategic mortgage joint ventures and solutions for homebuilders that help builders sell more homes by making mortgages more available and affordable.

The organization’s 1,400 team members across the country are guided by a core Mission, Vision and Convictions statement. Cornerstone has served families and businesses in more than 600,000 mortgage financing, commercial financing and deposit account relationships. Cornerstone holds certified Fortune Great Place to Work® status, is recognized as “Top Workplace” in major markets and has earned multiple Best Workplaces™ awards. For more information, visit www.cornerstonecapital.com.

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CONTACT: Joe Ahmad

AZA

[email protected]

713-600-4900

KEYWORD: UNITED STATES NORTH AMERICA TEXAS

INDUSTRY KEYWORD: BANKING PROFESSIONAL SERVICES FINANCE

SOURCE: Cornerstone Capital Bank

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PUB: 09/16/2025 11:04 AM/DISC: 09/16/2025 11:03 AM

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