Law360, New York (June 15, 2011, 7:19 PM EDT) -- Lincoln National Life Insurance Co. on Monday asked an Oklahoma federal court to sanction Wells Fargo Bank NA for frustrating discovery in litigation over the insurer’s rescission of life insurance policies worth $20 million, by failing to provide a knowledgeable witness.
The witness Wells Fargo provided didn't know enough about the case and hid behind the bank's attorneys, frustrating Lincoln's efforts to find a factual basis for Wells Fargo's allegations, according to Lincoln.
"While facts are not subject to privilege, plaintiff apparently believes that by being...
Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.