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Message
Wells Fargo: Shareholders can't sue us because they should have known we were lying
Posted on 11/13/18 at 10:18 pm
Posted on 11/13/18 at 10:18 pm
quote:
Wells Fargo is adopting an unusual defense against a shareholder lawsuit: claiming, essentially, that shareholders can’t hold the bank accountable for CEO Tim Sloan’s statements that it was “working to restore trust” and be “more transparent” about its scandals – because it should have been obvious that Sloan was lying.
The defense, which Wells Fargo put forth in a legal filing aimed at getting a shareholder lawsuit dismissed, relies on the legal concept of “puffery,” according to a Los Angeles Times report.
quote:
Wells Fargo is now claiming that the “puffery” defense should be applied to statements CEO Tim Sloan made to investors, and that a lawsuit filed by shareholders should be dismissed on those grounds.
quote:
The shareholder lawsuit focuses on efforts by Sloan and other Wells Fargo executives to conceal the auto-loan scandal, the Times reported. Wells Fargo execs were, at the time, already dealing with the bank’s massive fake-accounts scandal. They insisted that Wells Fargo would be “more transparent” about its scandals even while failing to disclose the auto-insurance issue.
LINK
This post was edited on 11/13/18 at 10:31 pm
12
Posted on 11/13/18 at 10:23 pm to Tigerbait357
Insert bold strategy gif.
Posted on 11/13/18 at 10:27 pm to Tigerbait357
That tells you they have no other defense. If they did they would never have let this ridiculous theory see the light of day.
Posted on 11/13/18 at 10:29 pm to Tigerbait357
A Narcissist's Prayer
That didn't happen.
And if it did, it wasn't that bad.
And if it was, that's not a big deal.
And if it is, that's not my fault.
And if it was, I didn't mean it.
And if I did...
You deserved it. <----- You are here.
That didn't happen.
And if it did, it wasn't that bad.
And if it was, that's not a big deal.
And if it is, that's not my fault.
And if it was, I didn't mean it.
And if I did...
You deserved it. <----- You are here.
Posted on 11/13/18 at 10:35 pm to Tigerbait357
Shareholders bout to get paid...
....bout $27.35.
....bout $27.35.
Posted on 11/13/18 at 10:37 pm to Tigerbait357
Amazing how white collar crime just gets laughed off.
I have relatives that were basically fired working for Wells Fargo because they didn't generate enough sales, when they refused to bulldoze the customer.
I have relatives that were basically fired working for Wells Fargo because they didn't generate enough sales, when they refused to bulldoze the customer.
Posted on 11/13/18 at 10:40 pm to Tigerbait357
The lawyers who came up with that defense are 100% 
Posted on 11/14/18 at 12:23 am to Spock's Eyebrow
quote:
A Narcissist's Prayer
That didn't happen.
And if it did, it wasn't that bad.
And if it was, that's not a big deal.
And if it is, that's not my fault.
And if it was, I didn't mean it.
And if I did...
You deserved it. <----- You are here.
Spot on
Posted on 11/14/18 at 12:59 am to BR Tiger
And they’ll get away with it
Posted on 11/14/18 at 3:25 am to Tigerbait357
Sounds like the chewbacca defense
Posted on 11/14/18 at 4:05 am to wickowick
quote:
Sounds like the chewbacca defense
I think the chewbacca defense actually has more merit. The Wells Fargo defense sounds more like an admission.
Posted on 11/14/18 at 4:39 am to Tigerbait357
Fricking banksters. After 2007/08, we should have imprisoned a few thousand with life sentences, just to get the message across. Nope, we gave them TARP and other BS, and they kept handing out bonuses
Posted on 11/14/18 at 5:04 am to Spock's Eyebrow
quote:
Trump's Prayer
That didn't happen.
And if it did, it wasn't that bad.
And if it was, that's not a big deal.
And if it is, that's not my fault.
And if it was, I didn't mean it.
And if I did...
You deserved it. <----- You are here.
Fify
This post was edited on 11/14/18 at 5:05 am
Posted on 11/14/18 at 5:27 am to Tigerbait357
Posted on 11/14/18 at 7:22 am to upgrayedd
I just came here to say frick wells fargo. I'll never do business with them again after reading some of the stories. When i bought my house last year i told the mortgage broker upfront i will go somewhere else if he tried to quote me a loan from wells fargo.
Posted on 11/14/18 at 7:32 am to Tigerbait357
Well Fargo is absolute garbage
Posted on 11/14/18 at 7:36 am to Tigerbait357
The auto loan scandal coming after the fake accounts was quite the punch to the gut for WF.
Posted on 11/14/18 at 7:43 am to bayou choupique
quote:
frick wells fargo.
They're one bank I don't even need to look at their offers from. No point as I will never use them.
Also, screw their feel good old time western tv commercials trying to win back the countries trust. I cringe every time I see those lies.
Posted on 11/14/18 at 7:43 am to bayou choupique
quote:They could likely still buy your loan. In most instances, you have no control over that.
if he tried to quote me a loan from wells fargo.
Posted on 11/14/18 at 7:55 am to PearlJam
There are plenty of lenders who do in home mortgages now. Just stick with thme
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