Wells Fargo Securities LLC defeated an appeal Monday by investors seeking to revive their lawsuit blaming the financial services firm for at least $500 million in loses from a 2018 portfolio liquidation.
The investors said Wells Fargo caused those losses when, acting as a futures commission merchant to LJM Investment Fund LP and LJM Partners Ltd., it forced the funds to liquidate their entire portfolio in response to temporary market volatility.
But those allegations don’t support proposed class claims for negligence, interference with a contract or business relations, or aiding a fiduciary breach by LJM, the US Court of Appeals ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.