Wells Fargo Execs, Investors Settle 2 Wachovia Suits

Law360, New York (December 3, 2012, 2:18 PM EST) -- Investors on Friday agreed to settle a pair of shareholder derivative suits against current and former principals at Wells Fargo & Co. and now-defunct Wachovia Corp., which were brought in relation to Wachovia's dealings in subprime mortgages and its acquisition of Golden West Financial Corp.

The actions were lodged in 2010 and 2012 in California federal court, with the investors alleging, among other things, that the former Wachovia board of directors was responsible for breaches of fiduciary duty in connection with its 2006 buy of Golden...
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