Wells Fargo Beats Suit Over Securities-Lending Losses

Law360, Los Angeles (August 8, 2013, 8:32 PM EDT) -- A Minnesota federal jury found Thursday that Wells Fargo Bank NA didn't mislead Blue Cross Blue Shield of Minnesota and other institutional investors about its securities lending program and isn't liable for any of the losses they allegedly suffered, the bank announced. 

Following a seven-week trial, a 10-person jury returned the verdict on the second day of deliberations, declaring Wells Fargo hadn't misrepresented its investment strategy and wasn't liable for the $8.2 million in losses the plaintiffs say they suffered, according to the company and court...
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