German financial agency sues Wells Fargo over debt handling
Wells Fargo & Co. has been sued for allegedly mishandling investments of a collateralized-debt obligations vehicle created by a German bank that was dissolved following the 2008 financial crisis, Bloomberg reports.
A German public agency created to wind up assets of the state-owned bank filed the suit in federal court in Manhattan.
The suit accuses Wells Fargo (NYSE: WFC) of mismanagement as a trustee and collateral administrator. San Francisco-based Wells Fargo is one of the largest banks…
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