Wells Fargo Wins Round In Bid To Escape Pruco Suit

Law360, New York (July 24, 2012, 8:05 PM EDT) -- Wells Fargo Bank NA will get another shot at validating a $10 million insurance policy from Pruco Life Insurance Co. following a Florida federal judge's decision Monday to consider whether Pruco knew the policy was secured fraudulently long before it sought to have it voided.

Wells Fargo essentially lost the case in November when U.S. District Judge James Cohn granted summary judgment to Pruco Life Insurance by ruling that the bank bought an invalid $10 million life insurance policy that was fraudulently obtained by a broker....
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