Wells Fargo to Pay $575MM to Settle Claims with Attorney Generals
Wells Fargo reached an agreement with all 50 state Attorneys General and the District of Columbia regarding previously disclosed retail sales practices, auto collateral protection insurance and Guaranteed Asset/Auto Protection and mortgage interest rate lock matters. Wells Fargo will pay a total of $575 million to resolve civil claims brought by the state AGs.
Vedder Price Named 2019 Equipment Finance Law Firm of the Year
U.S. News — Best Lawyers, a publication of U.S. News & World Report, again named Vedder Price “Law Firm of the Year” for equipment finance in its annual “Best Law Firms” rankings. Only one firm per legal practice area receives this recognition. Vedder Price also achieved top-tier status for two other practices — Admiralty & Maritime Law and Banking and Finance Law.
Dechert Achieves Comprehensive Trial Victory for DLL
Dechert has achieved a comprehensive and dramatic trial victory for its client DLL in a Pennsylvania state court case arising from a former executive’s misappropriation of trade secrets and violation of contractual obligations upon his separation from the company. The jury verdict awarded wins to DLL in all three of its claims — misappropriation of trade secrets, breach of the severance agreement, and conversion — resulting in an award of more than $500,000.
Reed Smith Launches Asset and Equipment Finance Blog
Law firm Reed Smith launched an asset and equipment finance blog, Asset Finance in Brief, edited by Partner Richard Tannenbaum. The blog features thought leadership for all those interested in the asset and equipment finance space — with commentary from the Reed Smith team on legal issues, recent industry developments and future industry trends.