The law firm Kirby McInerney has been appointed lead counsel and the New York City Pension Funds as lead plaintiff in two class actions filed against Wachovia Corporation in the Southern District of New York, the firm announced on Wednesday. The cases allege that Wachovia and its executives misrepresented and failed to disclose Wachovia’s exposure to the subprime market, including the deficient underwriting standards of Golden West, a California-based mortgage lender that Wachovia had recently acquired. Plaintiffs allege that Wachovia’s conduct caused billions of dollars of losses to investors.
‘Enforcement 40’ for 2020
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