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Phoenix Light SF Limited et al v. Wells Fargo Bank, N.A.
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July 12, 2022
Wells Fargo Bank NA escaped a suit brought by investors in residential mortgage-backed securities on Tuesday as a New York federal judge tossed most of the investors' claims against the banking giant.
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August 14, 2018
A New York federal judge overseeing coordinated residential mortgage-backed securities trustee litigation against Wells Fargo Bank NA has backed a magistrate judge's rejection of challenges both to the bank's privilege assertions and to its push for more detail on certain claims from the investors behind the suits.
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August 21, 2017
Investors in residential mortgage-backed securities overseen by Wells Fargo NA on Monday lost their bid to resuscitate their preferred approach to meting out blame, when a New York federal judge dealt a new blow to the "sampling" methodology that plaintiffs have sought to use in RMBS cases.
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March 20, 2017
A holding company that allegedly suffered $230 million in losses because Wells Fargo & Co. rubber-stamped junk mortgages told a Manhattan federal magistrate judge on Friday that the company has proven ownership of the at-issue mortgages and that the bank's contentions otherwise are false.
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March 14, 2017
Wells Fargo told a Manhattan federal magistrate judge on Tuesday that a Phoenix Light manager's deposition and other information suggest the Irish brokerage did not hold relevant securities when it and others sued for contract breach and negligence over their $402 million exposure to 13 crisis-era loan bundles.
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November 23, 2016
A New York federal judge on Tuesday ordered Wells Fargo Bank NA to produce documents from a pair of databases in a proposed class action accusing the bank of mishandling residential mortgage-backed securities investments, but denied the investors' request concerning two other databases.
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November 18, 2016
Investors who say Wells Fargo Bank NA failed to protect them from massive residential mortgage-backed securities losses on Thursday urged a New York federal judge to sanction the bank and its lawyers for improper deposition conduct and failure to prepare a witness who was supposed to speak on behalf of the bank.
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January 19, 2016
A New York federal judge dismissed claims against Deutsche Bank and Wells Fargo on Tuesday with regard to the lion's share of more than $1 trillion of claimed losses in mortgage-backed-securities investments, declining to take up the heavily state-law-based suits but giving the plaintiffs one more shot.
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August 06, 2015
Investors alleging Wells Fargo & Co. and Deutsche Bank AG failed to protect them from over $1 trillion in losses due to poorly underwritten residential mortgage-backed securities fought back Wednesday against the banks' contention that a recent decision in a similar case found a bank didn't have to provide breach of warranty notices.
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May 01, 2015
Wells Fargo & Co. and Deutsche Bank AG moved to toss five suits accusing the companies of failing to protect investors from over $1 trillion in losses due to poorly underwritten residential mortgage-backed securities, arguing on Friday that as trustees they had no duty to protect plaintiffs from their bad investment decisions.