Wilmington Trust Can't Shake Shareholder Fraud Suit

Law360, New York (March 21, 2014, 12:24 PM EDT) -- A Delaware federal judge on Thursday declined to dismiss a consolidated class action against Wilmington Trust Corp. accusing it of misleading investors about a precarious loan portfolio that fueled the bank's downfall and hasty merger with M&T Bank Corp.

U.S. District Judge Sue L. Robinson ruled that the group of shareholders had provided adequate evidence that WTC and its executives were less than forthright in U.S. Securities and Exchange Commission filings, quarterly conference calls and other disclosures to allow their securities fraud claims to proceed....
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