Wells Fargo Funds Allege Fraud In School Bond Issue

Law360, New York (December 17, 2008, 12:00 AM EST) -- A group of Wells Fargo funds and others have filed a lawsuit alleging that a Michigan charter school management firm, law firm Dorsey & Whitney LLP and other professionals made numerous misrepresentations in issuing about $7 million in municipal revenue bonds for the purchase of a school building.

The municipal bond funds for Wells Fargo, Lord Abbett & Co. and Pioneer Investment Management Inc. filed a complaint Monday in the U.S. District Court for the Eastern District of Michigan alleging that Crescent Academy administrators, bond underwriters...
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