An accounting veteran at one of America's largest lenders just secured a seven-figure judgment after a jury sided with her in a high-profile age bias case
CrossCountry Mortgage has been ordered to pay more than $2.1 million in damages and legal fees after an Ohio jury—and later the appeals court—found the company liable for age discrimination against a former senior accountant.
The decision, finalized on May 29, 2025, capped a legal dispute that began when Cheryl Shephard, 65 at the time, alleged she was terminated not for performance, but because of her age. Shephard had joined the company in August 2016 and was responsible for accruals, fixed assets, and prepaids.
Her termination on June 20, 2022, followed the reassignment of her core responsibilities to Adam Scher, a 29-year-old hired in April 2022. While the company cited a “reduction in force,” evidence showed five younger employees were added to the accounting department between February and June 2022—after interest rates began rising. Shephard’s annual salary at the time was $69,657.
The jury found in favor of Shephard on her age discrimination claim, awarding $544,997 in compensatory damages and $1.25 million in punitive damages. The trial court added $419,052 in attorney’s fees, $41,538.21 in litigation expenses, and $30,478.18 in prejudgment interest, for a total judgment of $2,126,059.39. CrossCountry Mortgage’s motion to apply a statutory punitive damages cap was granted, with Shephard stipulating to the amount.
CrossCountry challenged the verdict on six grounds, including jury confusion, evidentiary rulings, and the denial of its motions for a directed verdict and new trial. But the Eighth Appellate District Court of Appeals affirmed the trial court’s ruling.
The court noted inconsistencies in CrossCountry’s justification for the termination and highlighted noncompliance with the Older Workers Benefit Protection Act. Specifically, Shephard was given only 21 days to review a severance agreement, which would have required 45 days had her termination been part of a group layoff.
The case also included testimony from former CCM controller David Constantini, who confirmed that senior leadership had expressed interest in hiring “younger and hungrier” employees and that Shephard had not been subject to any performance issues under his supervision.
With the appellate ruling now final, CrossCountry Mortgage posted a $2,494,576.35 surety bond to stay enforcement of the judgment during the appeal.
