Bank

Notices Oct 28, 2016

IMPORTANT INVESTOR ALERT: Lundin Law PC Announces Securities Class Action Lawsuit Against Opus Bank and Encourages Investors With Losses to Contact the Firm

Lundin Law PC , a shareholder rights firm, announces a class action lawsuit against Opus Bank (“Opus Bank” or the “Company”) (Nasdaq: OPB) concerning possible violations of federal securities laws between July 28, 2014 and October 17, 2016 inclusive (the “Class Period”). Investors who purchased or otherwise acquired shares during the Class Period should contact …

Lawsuits Oct 20, 2016

A Lawsuit Asking Wells Fargo to Pay $10 Billion Is Being Brought in Utah

Utah is poised to become ground zero in a lawsuit aimed at making Wells Fargo pay. Victims of the bank’s recent scheme hope to hit the bank where it hurts and hit them hard – and Utah might hold the key to it all. In the weeks since news broke that Wells Fargo opened as many as 2 million fake accounts in their customers’ names, there has been a barrage of moves made by the bank to show …

News Oct 15, 2016

Goldman Sachs Wins $1bn Lawsuit With the Libyan Investment Authority

Goldman Sachs on Friday won a lawsuit filed against it by the Libyan Investment Authority (LIA), a government-managed sovereign wealth fund. The Libyan fund had sued the American investment bank for $1.2bn (£984m) over losses that it had incurred from derivatives purchased in 2008. The LIA had alleged that Goldman Sachs had wooed the fund’s officials with prostitutes, fine-dining in London’s …

Notices Sep 23, 2016

National Class Action Firm Keller Rohrback L.L.P. Investigating Unauthorized Accounts at Consumer Banks

SEATTLE–(BUSINESS WIRE)–Attorney Advertising. The law firm Keller
Rohrback L.L.P., which over a year ago filed the first
class action lawsuit against Wells Fargo Bank, N.A. (NYSE: WFC) for
opening unauthorized accounts, announced it is investigating allegations
of similar practices at other consumer banks.

Settlements Sep 23, 2016

Bank of America Settles ‘bros Club’ Lawsuit With Ex-Managing Director

Bank of America Corp. and a former managing director agreed to settle a lawsuit in which she accused the institution of being a “bros club” that favored male employees. Terms of the settlement weren’t disclosed in a Wednesday filing in Manhattan federal court. Megan Messina had been offered $500,000 to settle, according to an earlier filing.

News Sep 23, 2016

Bank Seeks to Dismiss Lawsuit by Alleged Ponzi Scheme Victims

PNC Bank has asked a federal judge to throw out a lawsuit brought by victims of William Apostelos’ alleged Ponzi scheme. The class action lawsuit filed by Dr. Rafael M. Cruz, Dr. Gloria Cruz and Dr. Rafael F. Cruz in Dayton’s U.S. District Court seeks at least $30 million in damages. The suit alleges that PNC Bank missed red flags that Apostelos used his accounts in a suspicious manner.

Legal News Sep 22, 2016

Wells Fargo Customers Could Be Blocked From Courtroom Justice

A class-action lawsuit filed against Wells Fargo last week might be hamstrung at the starting line, legal experts say. Customers who had bank or credit card accounts opened in their name without their knowledge face an uphill battle even getting a court to hear their case because of mandatory arbitration contract clauses that protect banks from class-action suits, consumer advocates say. John …

Legal News Sep 21, 2016

U.S. Judge Narrows Currency Rigging Lawsuit Against Seven Banks

The U.S. judge overseeing litigation accusing 16 banks of rigging prices in the $5.3 trillion-a-day foreign exchange market on Tuesday narrowed but refused to dismiss lawsuits against Deutsche Bank (DBKGn.DE), Morgan Stanley (MS.N) and five other large banks that have yet to settle. U.S. District Judge Lorna Schofield in Manhattan dismissed antitrust claims …

News Sep 20, 2016

Wells Fargo Updates: CEO John Stumpf ‘Failed to Disprove … A Massive Fraud’

Under aggressive questioning by Sen. Elizabeth Warren (D-Mass. ), Wells Fargo chief John Stumpf would not commit to pushing for the bank to rescind some of the approximately $100 million in compensation received by the executive who oversaw the employees who opened unauthorized customer accounts. Stumpf also said he never considered firing the executive, Carrie Tolstedt, who announced her …

News Sep 19, 2016

Plaintiffs in Utah File First Lawsuit Against Wells Fargo

The first lawsuit has been filed against Wells Fargo Friday. Three plaintiffs in Utah are suing the bank for fraud, invasion of privacy and breach of contract. This follows the recent news that the bank collected fees on millions of unauthorized accounts.