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Judge Upholds $1.5 Billion Claim against Wells Fargo

Posted by: In: Real Estate 10 Apr 2014 Comments: 0 Tags: ,
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A lawsuit filed by European bank LBBW Luxemburg S.A. over an alleged $1.5 billion subprime mortgage-backed securities (MBS) fraud scheme was upheld by a federal judge, who denied the bank’s motions to dismiss. U.S. District Judge J. Paul Oetken let stand charges of fraud, breach of contract, negligent misrepresentation, and constructive fraud against Wells Fargo Securities LLC and Fortis Securities LLC.

The post Judge Upholds $1.5 Billion Claim against Wells Fargo appeared first on DSNews.com.

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