$105M MedCap Settlement Doesn't Protect Wells Fargo

Law360, New York (August 23, 2013, 5:13 PM EDT) -- A California federal judge has refused to shield Wells Fargo Bank NA from future claims over its alleged role in a $1 billion Ponzi scheme, declining to find that the bank's freshly approved $105 million settlement with Medical Capital Holdings Inc. investors was made in good faith.

This is the second time U.S. District Judge David Carter has decided against granting a good faith determination in the sprawling litigation stemming from MedCap's alleged mass misappropriation of funds. Last month, the judge denied a similar request by...
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