STORY FROM: MDL Mass Tort & Class Action Monitor
Petition Seeks Creation of MDL Docket for Claims Against Wells Fargo for ‘Deceptive Business Practices’ Relating to PPP Loans
June 10, 2020
WASHINGTON, D.C. –– A petition has been filed seeking the creation of a multidistrict litigation docket for claims pending against Wells Fargo Bank for unfair and deceptive business practices, with the plaintiffs maintaining that the bank “failed to implement and follow the Small Business Association’s rules and regulations requiring that [Paycheck Protection Program] applications be processed on a ‘first-come, first-served’ basis.”
In a June 9 brief filed in the U.S. Judicial Panel on Multidistrict Litigation, plaintiff DNM Contracting Inc. argued that the creation of a coordinated docket was necessary given that the actions involve common questions of fact and assert ...