Phoenix Light SF Limited et al v. Wells Fargo Bank, N.A.

  1. July 12, 2022

    Wells Fargo Slips Investors' Claims In RMBS Suit

    Wells Fargo Bank NA escaped a suit brought by investors in residential mortgage-backed securities on Tuesday as a New York federal judge tossed most of the investors' claims against the banking giant.

  2. August 14, 2018

    RMBS Investors Can't Get Orders Tossed In Wells Fargo Suits

    A New York federal judge overseeing coordinated residential mortgage-backed securities trustee litigation against Wells Fargo Bank NA has backed a magistrate judge's rejection of challenges both to the bank's privilege assertions and to its push for more detail on certain claims from the investors behind the suits.

  3. August 21, 2017

    RMBS Investors Lose Fight For Wells Fargo Sampling

    Investors in residential mortgage-backed securities overseen by Wells Fargo NA on Monday lost their bid to resuscitate their preferred approach to meting out blame, when a New York federal judge dealt a new blow to the "sampling" methodology that plaintiffs have sought to use in RMBS cases.

  4. March 20, 2017

    Broker Defends Ownership Of Junk Wells Fargo Mortgages

    A holding company that allegedly suffered $230 million in losses because Wells Fargo & Co. rubber-stamped junk mortgages told a Manhattan federal magistrate judge on Friday that the company has proven ownership of the at-issue mortgages and that the bank's contentions otherwise are false.

  5. March 14, 2017

    Wells Fargo Says Broker May Not Own Securities In Suit

    Wells Fargo told a Manhattan federal magistrate judge on Tuesday that a Phoenix Light manager's deposition and other information suggest the Irish brokerage did not hold relevant securities when it and others sued for contract breach and negligence over their $402 million exposure to 13 crisis-era loan bundles.

  6. November 23, 2016

    Wells Fargo Ordered To Turn Over Documents In RMBS Suit

    A New York federal judge on Tuesday ordered Wells Fargo Bank NA to produce documents from a pair of databases in a proposed class action accusing the bank of mishandling residential mortgage-backed securities investments, but denied the investors' request concerning two other databases.

  7. November 18, 2016

    Investors Seek Sanctions Against Wells Fargo In RMBS Suit

    Investors who say Wells Fargo Bank NA failed to protect them from massive residential mortgage-backed securities losses on Thursday urged a New York federal judge to sanction the bank and its lawyers for improper deposition conduct and failure to prepare a witness who was supposed to speak on behalf of the bank.

  8. January 19, 2016

    Wells Fargo, Deutsche Escape Host Of MBS Claims

    A New York federal judge dismissed claims against Deutsche Bank and Wells Fargo on Tuesday with regard to the lion's share of more than $1 trillion of claimed losses in mortgage-backed-securities investments, declining to take up the heavily state-law-based suits but giving the plaintiffs one more shot.

  9. August 06, 2015

    RMBS Investors Say Wells Fargo, Deutsche Still On Hook

    Investors alleging Wells Fargo & Co. and Deutsche Bank AG failed to protect them from over $1 trillion in losses due to poorly underwritten residential mortgage-backed securities fought back Wednesday against the banks' contention that a recent decision in a similar case found a bank didn't have to provide breach of warranty notices.

  10. May 01, 2015

    Wells Fargo, Deutsche Bank Move To Nix RMBS Trustee Suits

    Wells Fargo & Co. and Deutsche Bank AG moved to toss five suits accusing the companies of failing to protect investors from over $1 trillion in losses due to poorly underwritten residential mortgage-backed securities, arguing on Friday that as trustees they had no duty to protect plaintiffs from their bad investment decisions.