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Wachovia Faces Class Action Over Loan Statements

By Ron Zapata (June 10, 2008, 12:00 AM EDT) -- A Wachovia Corp. shareholder has hit the bank and its executives with a purported class action for allegedly making false statements that the bank's loan underwriting practices were better prepared to withstand the credit crisis than other banks', then reporting quarterly losses due to the declining mortgage market....

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