Wells Fargo Beats Contract Suit Over Proprietary Trades

Law360, Los Angeles (April 19, 2013, 9:20 PM EDT) -- A New York federal judge on Friday tossed hedge fund servicing firm Williams Trading LLC's lawsuit alleging Wells Fargo Securities LLC breached their partnership agreement by engaging in proprietary trading, saying the contract didn’t give Williams Trading the authority to dictate Wells Fargo's options.

The decision ends allegations that Wells Fargo violated a 2010 contract with Williams Trading for payment of referral fees for hirings and client recommendations. Williams Trading alleged that the agreement created a joint venture between the companies and that Wells Fargo wrongly...
To view the full article, register now.




Case Information

Case Title

Williams Trading LLC v. Wells Fargo Securities, LLC,

Case Number



New York Southern

Nature of Suit

Contract: Other


Katherine B. Forrest

Date Filed

August 3, 2012

Law Firms


Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.