Date: 06-04-2010

Case Style: Workers' Compensation Reinsurance Association, Minnesota Medical Foundation, The Minneapolis Foundation and Robins Kaplan Miller & Ciresi Foundation for Children v. Wells Fargo Bank, N.A. and Robert Smith

Case Number: 62-CV-08-10825

Judge: M. Michael Monahan

Court: District Court, Ramsey County, Minnesota

Plaintiff's Attorney: Roberta Walburn, Robins, Kaplan, Miller & Ciresi L.L.P., Minneapolis, Minnesota for Minnesota Medical Foundation, et al.

Defendant's Attorney: Larry Hofmann and Jonathan Farrington Mack, Zelle Hofmann Voelbel & Mason, L.L.P., Minneapolis, Minnesota for Wells Fargo Bank, N.A.

Description: Workers' Compensation Reinsurance Association, Minnesota Medical Foundation, The Minneapolis Foundation and Robins Kaplan Miller & Ciresi Foundation for Children sued Wells Fargo and Robert G. Smith on breach of fiduciary duty and fraud theories claiming that they lost money on investments that Wells Fargo represented to be "safe." Plaintiffs sought $400 million in compensatory and punitive damages.

The defenses asserted by Defendants are not available.

Outcome: Plaintiffs' verdict for $29.9 million.

Plaintiff's Experts:

Defendant's Experts:

Comments: