Wells Fargo Gets Loan Deception Claims Trimmed

Law360, Chicago (May 10, 2012, 4:52 PM EDT) -- A California federal judge trimmed a putative class action Wednesday accusing Wells Fargo Bank NA of deceptively promising to modify problem mortgages before foreclosing on properties, finding the homeowner plaintiffs failed to allege adequate damages but allowing them to amend their complaint.

In an order partly granting the bank's motion to dismiss, U.S. District Judge Joseph C. Spero agreed with the bank's argument that the only damages plaintiffs Vicki and Richard Sutcliffe alleged on their breach of contract claim were the reduced payments they made under...
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