Wells Fargo Says Ex-Trader Can't Claim Privacy On Phone Call

Law360, San Francisco (September 30, 2019, 8:59 PM EDT) -- Wells Fargo urged a California state judge on Monday to end claims it illegally recorded a former exchange trader's call concerning the $12.5 billion merger of Burger King and Tim Hortons, arguing the bank abided by state privacy statutes and that federal regulations required it to keep records of transactions.

Michael Schaufler, a foreign exchange trader for the San Francisco-based bank, sued Wells Fargo Bank NA in January, claiming it wrongfully terminated his employment and violated the California Invasion of Privacy Act when it recorded without consent a call that he and his colleagues were on.

The phone call occurred following...

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