Wells Fargo and BlackRock Plaintiffs Settle RMBS Trustee Litigation
Wells Fargo & Company (WFC)
Last wells fargo & company earnings: 4/14 07:46 am
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Source: Business Wire
SAN FRANCISCO--(BUSINESS WIRE)-- Wells Fargo Bank, N.A., and a group of institutional investors, including funds affiliated with BlackRock, Inc. and PIMCO, announced today that they have reached a settlement that resolves two class action lawsuits in federal and state court related to Wells Fargo’s role as trustee for certain residential mortgage-backed securities (RMBS) trusts created more than a decade ago. Under terms of the agreement, Wells Fargo will pay $43 million and Wells Fargo denies the claims in the litigation. Separate from the settlement amount the company is paying, up to $70 million from certain trust reserve accounts established in connection with the litigation will be released. The settlement also resolves a related action seeking declaratory relief against Wells Fargo, as well as claims by Wells Fargo against certain investment advisors. Federal and state cases alleging similar claims filed by
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- 4/12/24 - Beat
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- 4/25/24 - Form 424B2
- 4/23/24 - Form 8-K
- 4/23/24 - Form PX14A6G
- WFC's page on the SEC website