Wells Fargo Trust Recipients Lose Bid For New Trial

Law360, New York (March 8, 2012, 3:44 PM EST) -- A class of trust beneficiaries that alleged that Wells Fargo Bank NA was not authorized to administer the trusts it amassed through a series of bank acquisitions was denied a new trial Wednesday following a Texas federal judge's September ruling favorable to the bank.

U.S. District Judge Rodney Gilstrap denied the plaintiffs' motion for a new trial, finding that they had failed to provide any new evidence to support their theory that a breach of fiduciary duty had occurred or identify any errors in law or...
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