August 1, 2016
Monday’s Adjudication Roundup
- Barclays PLC urged the Second Circuit Court of Appeals on Monday to reverse class certification in a shareholder suit alleging misrepresentations related to the bank’s dark pool, arguing that the district court judge who granted cert. improperly refused to hear Barclays’ evidence.
- Mortgage borrowers who say Wells Fargo failed to disclose property insurance proceeds that might’ve been available to pay off their loans told a California federal court Wednesday that the bank is employing a “scorched-earth” litigation strategy and is seeking to delay the class action at every turn.
- A New York state judge has tossed a suit alleging that Barclays Bank PLC and a defunct unit lied about the quality of the loans made up of $619 million in residential mortgage-backed securities, saying the claims were filed too late.
