We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Wells Fargo Defeats Class Cert. Bid In Royal Park RMBS Suit

Law360 (April 17, 2018, 7:04 PM EDT) -- A New York federal judge rejected Royal Park Investments' bid for class certification on Tuesday in its suit accusing Wells Fargo Bank of mismanaging two residential mortgage-backed securitization trusts, taking up a magistrate judge's recommendation that found there were too many differences in the proposed group of investors to warrant a class approach.

U.S. District Judge Katherine Polk Failla said potential discrepancies among investors regarding standing, statute of limitations and damages prevents the suit from moving forward on a classwide basis. She further noted the Southern...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Royal Park Investments SA/NV v. Wells Fargo Bank, N.A.


Case Number

1:14-cv-09764

Court

New York Southern

Nature of Suit

Securities/Commodities

Judge

Katherine Polk Failla

Date Filed

December 11, 2014

Law Firms

Companies

Judge Analytics

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.