April 7, 2014

E. Powell Miller is lead counsel in a jury trial scheduled to start April 14, 2014 against Wells Fargo Bank involving its securities lending program. There have been two prior jury trials on this issue, one in which the jury ruled in favor of the plaintiff and one in favor of Wells Fargo. In the later trial, although the jury ruled in favor of Wells Fargo Bank, Judge Donovan Frank ruled that had he not been bound by the jury’s findings, he would have found that Wells Fargo breached its fiduciary duty.