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Wells Fargo Sues Fund For $16M Over Missed Margin Calls

Law360 (March 7, 2018, 3:54 PM EST) -- Wells Fargo Securities LLC leveled a lawsuit at LJM Investment Fund LP in New York federal court on Tuesday, seeking to recover more than $16 million the financial giant says it doled out to cover the commodity pool’s losses in February’s stock market fall.

LJM traded derivatives on the Chicago Mercantile Exchange, with Wells Fargo Securities as its clearing broker, which meant Wells Fargo was responsible to pay for the company’s margin requirements and losses. The lawsuit states LJM contractually agreed to reimburse Wells Fargo for...
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Case Information

Case Title

Wells Fargo Securities, LLC v. LJM Investment Fund, L.P. et al


Case Number

1:18-cv-02020

Court

New York Southern

Nature of Suit

190(Contract: Other)

Date Filed

March 6, 2018

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