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Case Status:    DISMISSED    
On or around 11/29/2010 (Court's order of dismissal)

Filing Date: August 10, 2010

According to the complaint dated August 10, 2010, many of the facts related to the 2006-AR 15 Trust Series of Mortgage Pass-Through Certificates pursuant or traceable to Wells Fargo Asset Securities Corporation's September 20, 2006 Registration Statement, and the accompanying Prospectus and Prospectus Supplement. This action arises from the sale of approximately $400 million in mortgage pass-through certificates pursuant to the Registration Statement. The Certificates were supported by pools of mortgage loans that the parent company or its affiliates originated or purchased.

The Offering Documents contained untrue statements of material fact, or omitted to state material facts necessary to make the statements therein not misleading, regarding: (i) the underwriting standards purportedly used in connection with the origination of the underlying mortgages; (ii) the maximum loan-to-value ratios used to qualify borrowers; and (iii) the appraisals of the properties underlying the mortgages.

On October 19, 2010, the Court issued an order denying the plaintiffs' Motion to Intervene and granted the defendants' motion, thereby dismissing the case with prejudice.


Sector: Financial
Industry: Regional Banks
Headquarters: United States


Ticker Symbol: WFC
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data

"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: N.D. California
DOCKET #: 10-CV-3508
JUDGE: Hon. Richard Seeborg
DATE FILED: 08/10/2010
CLASS PERIOD END: 08/10/2010
  1. Cotchett Pitre & McCarthy (Burlingame)
  2. Hagens Berman Sobol Shapiro LLP (Berkeley)
  3. Hagens Berman Sobol Shapiro LLP (New Seattle)
  4. Levetown & Jenkins, LLP
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—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available
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