We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Class Action Hopes Dashed In Wells Fargo Trust Suit

Law360 (January 29, 2008, 12:00 AM EST) -- A California appeals court has ruled that the Securities Litigation Uniform Standards Act prevents a group of trust fund holders from filing a class action against Wells Fargo for breach of duty.

The court on Friday granted a petition for a writ of mandate by Wells Fargo and directed the San Francisco Superior Court to vacate its order overruling the bank's legal challenge to the suit.

The plaintiffs, who are beneficiaries of personal trusts administered by Wells Fargo and are suing on behalf of similarly-situated trust...
To view the full article, register now.
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.