Law Firm Takes on Bad Banking Boy, Wells Fargo, in what promises

[truedelphi]

To be an interesting fight.

Calabasas, CA (Vocus/PRWEB) April 16, 2011


You can read the entire press release here:

http://www.prweb.com/releases/prweb2011/4/prweb8302303.htm


Philip Kramer has filed a mass joinder lawsuit against Wells Fargo/Wachovia (WELLS) (Nelson v. Wells Fargo, Superior Court of California, Superior Court of Los Angeles, case number: BC 452 264) in what is potentially the most significant and precedent-setting legal action taken against lenders as a result of the national foreclosure crisis, it was announced today by Philip Kramer, Esq. of Kramer & Kaslow.

The firm has filed suit on behalf of a mass joinder of plaintiffs seeking damages and injunctive relief as a result of what it calls the bank's fraud and multiple violations of Local, State, and Federal consumer protection laws. Relief is being sought for fraud, to stop the illegal sale of plaintiffs’ homes, to force the bank to cease and desist from their conduct, as well as to seek compensatory damages on behalf of the plaintiffs.

Mr. Kramer says that the lawsuit alleges WELLS FARGO perpetrated a massive fraud, also constituting unfair competition upon borrowers that devastated the values of their residences, resulting in the loss of net worth even as Wells Fargo enriched itself by knowingly selling financial instruments based on a value the bank knew to be unwarranted. Mr. Kramer also claims that Wells Fargo further intended to deprive numerous rights and remedies for the problems they caused the borrowers and believes that the harm done to the plaintiffs is exceeded only by the scale of the bank’s conduct as asserted in the plaintiffs’ suit.

Read the entire piece at:
http://www.prweb.com/releases/prweb2011/4/prweb8302303.htm

[xchrom]

1. Recommend

[loudsue]

2. I wish them the best of luck with their lawsuits.

The banks need to be taken to the shed for what they've done.