NY Judge Upholds Fraud Claims Against Wells Fargo, Fortis in $1.5 Billion Subprime Mortgage-Backed Securities Case

NEW YORK – A lawsuit filed by European bank LBBW Luxemburg S.A. over an alleged $1.5 billion subprime mortgage-backed securities fraud scheme cleared a significant hurdle last week when a federal judge denied the defendants’ extensive motions to dismiss. U.S. District Judge J. Paul Oetken let stand the fraud, breach of contract, negligent misrepresentation and […]