Conspiracy Claims Nixed In Wells Fargo Kickback Actions

Law360, New York (February 15, 2013, 5:34 PM ET) -- A Maryland federal judge on Thursday dismissed conspiracy claims against Wells Fargo Bank NA and other defendants in a pair of class actions claiming they created a front organization to funnel mortgage referrals to the bank in exchange for kickbacks, saying the claims were barred by law.

According to U.S. District Judge William M. Nickerson’s order, granting Prosperity Mortgage Co., Wells Fargo and Long & Foster Real Estate Inc.’s motions for partial summary judgment, the plaintiffs could not assert a conspiracy claim over the alleged sham...
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers