2nd Circuit Affirms Dismissal Of Investors’ $500M Class Claims Against Wells Fargo

( October 23, 2024, 10:09 AM EDT) -- NEW YORK — The Second Circuit U.S. Court of Appeals affirmed the dismissal of a putative class action in which two investors sought more than $500 million in damages from Wells Fargo Securities LLC for abruptly liquidating a portfolio of investments, finding that the investors failed to allege that Wells Fargo owed them a duty and failed to allege a contractual relationship that Wells Fargo breached....