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Breach of Trust and Breach of Fiduciary Duty Case Filed

October 2010

The firm filed a breach of trust and breach of fiduciary duty lawsuit against Wachovia and Wells Fargo related to the banks’ alleged gross and fraudulent mismanagement of an irrevocable trust. Among other things, the banks and individual trust officers failed to properly diversify the trust assets and allowed the trust to remain almost exclusively invested in Wachovia stock prior to and throughout the financial collapse of the bank. As a result, the trust and its beneficiaries lost millions of dollars.

Related Practice Area: Business Litigation

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