Blue Cross Blue Shield of Minnesota et al v. Wells Fargo Bank, N.A.

  1. March 20, 2018

    Wells Fargo Reaches Confidential Deal Resolving ERISA Suit

    Wells Fargo told a Minnesota federal judge on Tuesday that it's reached a confidential settlement resolving pension law claims brought by a slew of institutional investors who accused the bank of mismanaging a multibillion-dollar securities lending program they participated in.

  2. June 08, 2017

    Wells Fargo Can't Apply Verdict To Nonjury ERISA Claims

    A Minnesota federal judge on Thursday let stand his March decision holding that Wells Fargo waived its right to apply a favorable jury verdict to pension-law damages claims that were not before jurors in a bifurcated proceeding alleging the $266 billion bank mismanaged its securities lending portfolio.

  3. May 08, 2017

    Wells Fargo Asks For Reconsideration In Securities Suit

    Wells Fargo on Friday asked a Minnesota federal judge to reconsider his March ruling that the bank, by its silence on the matter, waived its right to use a favorable jury verdict to preclude related claims over alleged mismanagement of a securities lending portfolio.

  4. April 13, 2017

    Judge To Reconsider Whether Wells Fargo Waived Preclusion

    A federal judge will reconsider whether Wells Fargo waived a chance to apply a favorable jury verdict to other nonjury claims in a suit over alleged mismanagement of a securities lending portfolio during the Great Recession, the judge announced Thursday.

  5. March 14, 2017

    Wells Fargo Yielded Verdict's Preclusion Of Fiduciary Claims

    Wells Fargo gave up its right to preclude fiduciary duty claims over its alleged mismanagement of a securities lending portfolio by using a related jury verdict in its favor, a Minnesota federal judge ruled on Tuesday after the Eighth Circuit ordered a second look at the issue.

  6. March 24, 2016

    8th Circ. Revives Well Fargo Investors' ERISA Fiduciary Claim

    The Eighth Circuit has revived a breach of fiduciary duty claim by institutional investors alleging Wells Fargo mismanaged its securities lending portfolio, saying a Minnesota federal judge overseeing the bench trial of the case may have erred in applying a related jury verdict to nix the claim.

  7. October 02, 2014

    Wells Fargo Keeps Victory In $8.2M Blue Cross Lending Suit

    Blue Cross Blue Shield of Minnesota and other institutional investors can't get a new trial in their suit against Wells Fargo NA over $8.2 million in alleged securities lending losses, a Minnesota federal judge ruled Thursday, despite saying he disagreed with a jury's decision striking down their claims.

  8. August 08, 2013

    Wells Fargo Beats Suit Over Securities-Lending Losses

    A Minnesota federal jury found Thursday that Wells Fargo Bank NA didn't mislead Blue Cross Blue Shield of Minnesota and other institutional investors about its securities lending program and isn't liable for any of the losses they allegedly suffered, the bank announced. 

  9. April 19, 2012

    Wells Fargo Can't Duck Blue Cross' Securities Lending Suit

    Well Fargo Bank NA failed Wednesday to derail claims by Blue Cross and Blue Shield of Minnesota and other institutional investors that it recklessly managed their money in its securities lending program, with a federal judge saying the allegations were sufficiently specific and wouldn't be dismissed.

  10. September 02, 2011

    Blue Cross Sues Wells Fargo Over Securities Lending

    Blue Cross and Blue Shield of Minnesota and a slew of institutional investors launched a suit against Wells Fargo Bank NA in Minnesota federal court Thursday, accusing the financial services company of grossly mismanaging their investments in its securities lending program.