June 5, 2014

June 5, 2014

June 5, 2014

The Miller Law Firm has successfully settled a class action lawsuit against Well Fargo Bank N.A.’s securities lending program. Representing nearly 100 institutional investors, the Miller Law Firm argued that the bank mischaracterized its securities lending program as being safe, but instead placed significant amounts of cash collateral in high-risk investments such as structured investment vehicles which resulted in significant losses for investors. Both parties are awaiting preliminary approval of the settlement in the amount of $62.5 million.

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