Wells Fargo Opposes Creation of MDL Docket for ‘Deceptive Business Practices’ Relating to PPP Loans
June 25, 2020
WASHINGTON, D.C. –– Wells Fargo Bank has opposed creation of a multidistrict litigation docket for cases accusing it of failing to process applications for Paycheck Protection Program loans on a “first come, first served” basis, arguing that the actions lack the “common factual core” necessary for consolidation.
In a June 24 opposition filed before the Judicial Panel on Multidistrict Litigation Wells Fargo asserts that “myriad dissimilarities” between the actions “reduce any efficiencies to be gained from centralization” and militate against consolidation.
Plaintiff DNM Contracting Inc. filed the petition for creation of an MDL docket on June 9, arguing that …
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- Sullivan & Cromwell