Wells Fargo Bailed On Dewey Early, Lost Nothing, Jury Hears

Law360, New York (August 19, 2015, 7:52 PM EDT) -- Jurors in the trial of the former top executives of Dewey & LeBoeuf LLP on Wednesday heard how Wells Fargo & Co. bucked a trend among major banks and got out of business with Dewey early, potentially saving the lender tens of millions of dollars.

For the second day, the jury heard testimony from Wells Fargo Senior Vice President Robert Tolan, who testified about his dealings with Dewey while at Wachovia and later Wells Fargo after its 2008 acquisition of Charlotte-based Wachovia.

Wachovia/Wells was a part of a syndicate of banks that collectively lent $74.6 million to Dewey in 2008, but...

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