Litigation

Recent Posts

AbbeySpanier LLP: 9th Circuit Revives HAMP Claims Against Wells Fargo
Posted on 27 Nov 2013 by Abbey Spanier

In Corvello v. Wells Fargo Bank, NA , 11-16234, 11-16242, 2013 WL 4017279 (9th Cir. Aug. 8, 2013) (a copy of the opinion can be found here ), the Ninth Circuit reversed the lower Court’s dismissal of two consolidated class action complaints, holding... Read More

Federal Government, State AGs Reach $25 Billion Agreement With Banks Over Foreclosures
Posted on 9 Feb 2012 by Shane Dilworth

WASHINGTON, D.C. - (Mealey's) The U.S. Department of Justice (DOJ) announced Feb. 9 that the federal government, attorneys general from 49 states and five national banks have reached a $25 billion settlement to resolve issues stemming from the lenders'... Read More

Another Libor Scandal Antitrust Lawsuit Filed, This One on Behalf of Derivatives Investors
Posted on 8 Aug 2012 by Kevin M. LaCroix

At the risk of sounding repetitive, I must report here that there has been yet another Libor-scandal related lawsuit filed in the Southern District of New York. The latest lawsuit, filed on July 30, 2012, purports to be filed on behalf of a class of investors... Read More

Wachovia, KPMG Reach $627 Million Settlement With Investors
Posted on 9 Aug 2011 by Timothy Raub

NEW YORK - (Mealey's) In what Wachovia Corp. shareholders' attorneys are calling the single-largest recovery for claims brought "solely pursuant to" the Securities Act of 1933, the shareholders, Wachovia, certain of its affiliates and... Read More

The Week in Securities Litigation: SEC Prevails In 4 Court Actions
Posted on 4 May 2012 by Thomas O. Gorman

The Commission prevailed in four court actions. In the district court the agency won a summary judgment motion against an investment adviser. In the Eleventh Circuit Court the SEC secured a pair of victories. In one it obtained the reversal of a grant... Read More

Kevin LaCroix: Catching Up On Rulings In Key Subprime-Related Securities Lawsuits
Posted on 13 Apr 2011 by Kevin M. LaCroix

Over the last few days, there have been a series of rulings in high-profile lawsuits arising out of the subprime meltdown and credit crisis. As discussed below, just in the past week there were dismissal motion rulings in cases involving Freddie Mac,... Read More

Bank Of America To Pay $410M In Overdraft Fee Case
Posted on 7 Feb 2011 by LexisNexis Litigation Resource Community Staff

(AP) Bank of America has agreed to pay $410 million to settle a federal lawsuit alleging the bank charged excessive overdraft fees. The suit is one of several filed against several banks from plaintiffs in 14 states, which were consolidated in a federal... Read More

Wells Fargo To Pay Citi $100M To Settle Wachovia Lawsuit
Posted on 19 Nov 2010 by LexisNexis Litigation Resource Community Staff

NEW YORK - (AP) Wells Fargo & Co. has agreed to pay $100 million to Citigroup Inc. to settle a dispute related to its acquisition of Wachovia Corp. in October 2008, at the height of the financial crisis. Wachovia was teetering on the brink of collapse... Read More

Foreclosure Class Actions Pile Up Against Banks
Posted on 19 Nov 2010 by LexisNexis Litigation Resource Community Staff

NEW YORK - (AP) Foreclosure-fraud class action lawsuits are starting to pile up against major banks across the U.S., threatening a besieged industry with billions more in potential losses. Bank executives are swarming Capitol Hill this week to defend... Read More

Bank Of America's $8.5 Billion Settlement Won't Be Its Last
Posted on 1 Jul 2011 by LexisNexis Litigation Resource Community Staff

NEW YORK - (AP) Bank of America's $8.5 billion settlement with investors is the largest any bank has ever paid. It might help assuage worries about how deep the bank's mortgage problems might be and how long it might take to settle them. But for... Read More

Wells Fargo Reaches $590 Million Wachovia Settlement
Posted on 9 Aug 2011 by LexisNexis Litigation Resource Community Staff

NEW YORK - (AP) Wells Fargo & Co. on Friday said that it has agreed to pay $590 million to settle a class-action lawsuit filed by investors in Wachovia securities. The settlement would end a suit filed in 2008 in federal court in Manhattan, charging... Read More

AIG Sues Bank Of America For $10 Billion Over Mortgages
Posted on 10 Aug 2011 by LexisNexis Litigation Resource Community Staff

NEW YORK - (AP) More trouble piled up for Bank of America Corp. on Monday, as American International Group Inc. sued it for more than $10 billion, saying the bank cheated it by selling residential mortgage-backed securities that were overvalued. The suit... Read More

Borrowers Sue Over Apparent Loan Modification Mishaps
Posted on 6 Jul 2011 by LexisNexis Litigation Resource Community Staff

LOS ANGELES - (AP) It seemed Maria Campusano's financial problems were behind her when the mortgage on her Victorian home in a Massachusetts mill town was chopped by hundreds of dollars a month. She soon learned that her troubles had just begun. Weeks... Read More