2nd Circ. Nixes Wells Fargo Credit Agreement Row

Law360, New York (August 26, 2011, 3:30 PM EDT) -- The Second Circuit on Friday affirmed the dismissal of generic-drug maker Interpharm Inc.'s suit claiming Wells Fargo & Co. drove it to the brink of bankruptcy with draconian credit agreements laden with excessive fees.

Interpharm, which sued the bank for breach of contract, had argued that a district court improperly tossed its lawsuit on the basis of legal releases the drug company gave Wells Fargo after it defaulted on a $22.5 million revolving line of credit. The company claimed it signed the releases only because it...
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