March 26, 2024
An Illinois federal judge said Wells Fargo Securities LLC can transfer to New York federal court a suit accusing it of losing at least $500 million of a hedge fund's value in a wrong-way bet on the markets, since an identical class action is currently pending there.
May 18, 2023
Hedge fund investors who've accused Wells Fargo Securities LLC of setting the fund back at least $500 million have urged an Illinois federal judge to reject a bid to send their suit to New York, arguing "virtually all" of the disputed conduct occurred in Illinois.
April 18, 2023
Wells Fargo Securities LLC has asked an Illinois federal judge to transfer a suit accusing it of losing at least $500 million of a hedge fund's value in a wrong-way bet on the markets to New York federal court, where it says an identical class action is currently pending.
February 03, 2023
Wells Fargo cost investors in a hedge fund that lost 80% of its value betting the wrong way on market turmoil in February 2018 at least $500 million when the bank forced the immediate liquidation of their investments, according to a proposed class action filed Friday in Illinois federal court.