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: Bodily Injury BlogWells Fargo Named in Securities Fraud Lawsuit
By Edward Bills
California Attorney General Jerry Brown filed a lawsuit Thursday accusing Wells Fargo & Co. of fraud for its role in selling $1.5 billion of risky auction-rate securities to more than 2,000 Californians. According to the lawsuit, three Wells Fargo investment subsidiaries mislead investors to believe the securities were as safe as money market accounts. The lawsuit seeks to recover losses on behalf of Wells Fargo investors including retirees and small business owners.
Full post as published by Bodily Injury Blog on April 24, 2009 (boomark / email).
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