Law360, New York (November 18, 2011, 6:11 PM ET) -- A federal judge ruled Friday that Wells Fargo Bank NA does not owe a contribution to an Arizona town in a class action over losses suffered on $35 million in bonds, but he refused to nix a common-law indemnification counterclaim.
U.S. District Judge G. Murray Snow's ruling was on Wells Fargo's motion to dismiss — on grounds of failure to state a claim — counterclaims by the town of Prescott Valley, Ariz., and several underwriters seeking to hold Wells Fargo liable for its role as indenture...
Wells Fargo Off Hook For Ariz. Town's Bond Losses
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