Wells Fargo Says Denial Of Cert. Right Call In RMBS Suit

Law360 (March 9, 2018, 9:11 PM EST) -- Wells Fargo Bank NA has urged a New York federal judge to adopt a magistrate judge’s report recommending that class action status be denied for Royal Park Investments’ suit accusing the bank of bungling its duties as trustee to two residential mortgage-backed securitization trusts.

While Royal Park has argued the January report from U.S. Magistrate Judge Sarah Netburn reached a “virtually unprecedented result” in siding against class certification, Wells Fargo told U.S. District Judge Katherine Polk Failla in a brief dated Wednesday that Judge Netburn’s reasoning...
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