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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...
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Case Information

Case Title

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

Case Number



New York Southern

Nature of Suit



Katherine Polk Failla

Date Filed

December 11, 2014

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