Evidence Over Wells Fargo Execs' Probe Delay Stands

Law360, New York (February 14, 2012, 8:54 PM EST) -- A California federal judge said Thursday that investors in a derivative suit against Wells Fargo & Co. had sufficiently claimed that the mortgage lending giant's directors had concealed their alleged lack of cooperation in a federal probe over the bank’s foreclosure practices.

U.S. District Judge Susan Illston said that the investors had shown adequate evidence that Wells Fargo had tried to delay government investigations by opposing discovery requests and by not providing enough information about its foreclosure practice policies.

“The fact that the company was allegedly...
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