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Wilmington Trust Securities Fraud Class Reaches $210M Deal

Law360 (May 25, 2018, 11:09 PM EDT) -- A class of shareholders accusing Wilmington Trust of concealing information about its fiscal health in its filings with the U.S. Securities and Exchange Commission asked a Delaware federal judge Friday to approve a $210 million deal to end its securities fraud suit.

Wilmington Trust and former executives were hit with a number of suits following the bank’s downfall and hasty merger with M&T Bank Corp. in 2010. The suit centers on allegedly false and misleading statements about WTC's loan portfolio, underwriting procedures, and overall financial health...
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