Funds Seek Class Cert. In Wells Fargo MBS Suit

Law360, New York (February 14, 2011, 5:09 PM EST) -- A group of pension funds has asked for class certification in an action accusing Wells Fargo Bank NA and other companies of negligence in connection with the sale of more than $27.3 billion in mortgage-backed certificates.

The lead plaintiffs and proposed class representatives — the Alameda County Employees' Retirement Association, Government of Guam Retirement Fund, New Orleans Employees' Retirement System and Louisiana Sheriffs' Pension & Relief Fund — moved for certification in the U.S. District Court for the Northern District of California on Friday.

The plaintiffs...
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