Litigation News

Wells Fargo Ordered to Pay $54.8 million Over Mortgages

Chris Welsh, Esq. welsh-law.com A Manhattan federal jury has ordered Wells Fargo & Co. to pay $54.8 million in damages for excessive late fees charged by two mortgage servicers. Wells Fargo, a San Francisco-based lender and bank, faced the class action suit for “improper and unlawful” late fees charged by The Money Store and HomeEq. Plaintiffs claimed that the two servicers improperly charged late fees after Wells Fargo had accelerated mortgage loans (so that no further monthly payments were actually due). Thus, the late fees were prohibited under the loan agreement. The lender defends that some of the awarded damages …

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Target Tries to Dismiss Data Hacking Case, Judge Says Not a Chance

Chris Welsh, Esq. welsh-law.com On Tuesday, a federal judge denied Target’s bid to dismiss a lawsuit against the the retailer related to last year’s infamous cyber hacking that compromised millions of consumers credit and debit card information, saying Target played a “key role” in jeopardizing sensitive information. The suit was brought by five banks, all of whom want compensation for the money they spent reimbursing fraudulent charges and issuing credit and debit cards after the big breach. Their class action accuses Target of negligence and violation of Minnesota consumer protection law. Unsurprisingly, they seek millions of dollars in damages–the breach …

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High School Football Deaths Raise Alarm

Christopher Welsh, Esq. welsh-law.com There is nothing much more American than high school football, but grieving parents across the country face the dark side of “Friday night lights”: losing their sons to the sport. Last season, five young men died from causes directly related to the game, such as head and spine injury and nine players died from indirect causes, such as heatstroke. Yet for those same seasons, there were no deaths in any other level of football–youth, semi-pro, college, and the NFL. In fact, high school players suffer three times as many catastrophic injuries, such as death, permanent disability, …

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Arizona First State to Sue General Motors

Chris Welsh, Esq. www.welsh-law.com Arizona is the first state to bring a lawsuit against General Motors (“GM”) for its defective ignition switch. The state filed the suit last Wednesday, accusing the company of putting the public at risk for concealing safety problems and delaying recalls (reuters.com). Their suit involves hundreds of thousands of vehicles and $10,000 per safety violation. The suit also alleges that consumers lost money due to the fall in GM vehicle value and that current CEO was informed of an electric power steering problem in 2011 when she worked as head of product development. If the court …

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South Carolina agency rules lawsuit loans are traditional loans subject to state law

Big news for South Carolina consumers: Entities that fund litigation in exchange for a piece of any recovery are providing loans, as the term is defined by South Carolina law, a state agency has ruled. On Friday, the South Carolina Department of Consumer Affairs decided that those companies that conduct such business must comply with state law governing loans. The practice is known as third-party litigation financing, lawsuit lending and litigation funding, among other terms. Lawsuit lenders have argued that they are not providing loans because they ask for no repayment if the litigation is unsuccessful. “Given the plain language of the …

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