According to the AP, Wells Fargo & Co. has agreed to pay $125 million to a group of pension funds and other investors to settle allegations the bank failed to warn investors of the risks the poorly-written mortgage backed securities.
The proposed settlement was filed Wednesday in a California federal court and represents lawsuits filed by the pension funds of Detroit, Alameda County, New Orleans, Guam, and other plaintiffs. The settlement is subject to court approval….
http://www.huffingtonpost.com/2011/07/09/wells-fargo-lawsuit-mortgage_n_893848.html
No comments:
Post a Comment