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...
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