Claims Pared In Securities Suit Against FBR, Wells Fargo

Law360, Washington (August 17, 2012, 3:46 PM EDT) -- A New York federal judge on Wednesday threw out portions of a putative class action against Wells Fargo and Friedman Billings Ramsey Group Inc. that claims the companies bribed some stakeholders to sell portions of collateralized debt obligations, allowing breach of contract and fiduciary duty allegations to move forward.

U.S. District Judge Alison J. Nathan tossed seven claims mentioned in the defendants' motion to dismiss Hildene Capital Management LLC's case accusing FBR of bribing certain investors with $5 million side payments to allow it to sell...
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