August 24, 2015
Monday’s Adjudication Roundup
- Building investors sue Waterbridge Capital LLC for $10 million for allegedly selling units and pocketing profits, refusing to pay back its investors.
- Hurricane Sandy $25 million contract-insurance suit is dismissed against one of the defendants, Arch Insurance Group and its subsidiary, because the underlying policy limits hadn’t been reached and thus Arch did not have any liability.
- In $189 million mortgage fraud suit, the federal government claims that Wells Fargo cannot access documents it withheld because “the release of some documents doesn’t waive protects for all of them.”
- The Federal Deposit Insurance Corp. sues US Bank and Citigroup, Inc. for allegedly failing as trustee of residential mortgage-backed securities leading to a $695 million loss to the insurance fund.
