Welcome to Scribd, the world's digital library. Read, publish, and share books and documents. See more
Buy Now $5.00
Standard view
Full view
of .
Look up keyword
Like this
7Activity
P. 1
Sample Request for Judicial Notice Re SEC Subpoena Enforcement Action Against Wells Fargo for Failure to Produce Documents Civil Action No. CV-1280087

Sample Request for Judicial Notice Re SEC Subpoena Enforcement Action Against Wells Fargo for Failure to Produce Documents Civil Action No. CV-1280087

Ratings: (0)|Views: 177|Likes:
Published by Barry Fagan Esq.
Comes now Plaintiff Barry S. Fagan herewith serves upon Defendants and their Attorneys of record his Request for Judicial Notice of a related case issued from the UNITED STATES OF AMERICA SECURITIES AND EXCHANGE COMMISSION

Securities and Exchange Commission v. Wells Fargo & Company, Civil Action No. CV-1280087 CRB Misc. (N.D. Cal. March 23, 2012) and Plaintiff hereby requests that the Court take Judicial Notice of the following Case: Securities and Exchange Commission v. Wells Fargo & Company, Civil Action No. CV-1280087 CRB Misc. (N.D. Cal. March 23, 2012) On March 23, 2012, the SEC Files Subpoena Enforcement Action Against Wells Fargo for Failure to Produce Documents in Mortgage-Backed Securities Investigation and attached with this Request For Judicial Notice is the Litigation Release No. 22305 dated March 23, 2012. http://www.sec.gov/litigation/litreleases/2012/lr22305.htm
Pursuant to subpoenas dating back to September 2011, Wells Fargo Bank was obligated to produce (and agreed to produce) documents to the Commission, but has failed to do so. Accordingly, the Commission filed its Application for an Order Requiring Compliance with Administrative Subpoenas. The issues and findings are intimately related to the case at bar and is authorized under California Evidence Code § 452.

SEC PRESS RELEASE

U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 22305 / March 23, 2012
Securities and Exchange Commission v. Wells Fargo & Company, Civil Action No. CV-1280087 CRB Misc. (N.D. Cal. March 23, 2012)
SEC Files Subpoena Enforcement Action Against Wells Fargo for Failure to Produce Documents in Mortgage-Backed Securities Investigation
The Securities and Exchange Commission announced today that it has filed a subpoena enforcement action in the U.S. District Court for the Northern District of California against Wells Fargo & Company. According to the filing, the Commission is investigating possible fraud in connection with Wells Fargo’s sale of nearly $60 billion in residential mortgage-backed securities to investors. Pursuant to subpoenas dating back to September 2011, the bank was obligated to produce (and agreed to produce) documents to the Commission, but has failed to do so. Accordingly, the Commission filed its Application for an Order Requiring Compliance with Administrative Subpoenas.
The Commission’s action relates to its investigation into whether Wells Fargo made material misrepresentations or omitted material facts in a series of offerings between September 2006 and early 2008. The Commission’s application explains that, in connection with the securitization of the loans, a due diligence review of a sample of the loans in each offering was performed. Certain loans within that sample would be dropped from the offering for failure to comply with Wells Fargo’s loan underwriting standards. However, according to the Commission, it does not appear that Wells Fargo took any steps to address similar deficiencies in the remainder of the loans in the pool, which were securitized and sold to investors. The Commission is investigating, among other things, whether Wells Fargo misrepresented to investors that the loans being securitized complied with the bank’s loan underwriting standards. The staff in the Commission’s San Francisco Regional Office issued several subpoenas to Wells Fargo since September 2011 seeking, among other things, materials related to due diligence and to the bank’s underwriting guidelines. According to the Commission, Wells Fargo agreed to produce the documents, and set forth a timetable for doing so, yet has failed to produce many of the materials.
Comes now Plaintiff Barry S. Fagan herewith serves upon Defendants and their Attorneys of record his Request for Judicial Notice of a related case issued from the UNITED STATES OF AMERICA SECURITIES AND EXCHANGE COMMISSION

Securities and Exchange Commission v. Wells Fargo & Company, Civil Action No. CV-1280087 CRB Misc. (N.D. Cal. March 23, 2012) and Plaintiff hereby requests that the Court take Judicial Notice of the following Case: Securities and Exchange Commission v. Wells Fargo & Company, Civil Action No. CV-1280087 CRB Misc. (N.D. Cal. March 23, 2012) On March 23, 2012, the SEC Files Subpoena Enforcement Action Against Wells Fargo for Failure to Produce Documents in Mortgage-Backed Securities Investigation and attached with this Request For Judicial Notice is the Litigation Release No. 22305 dated March 23, 2012. http://www.sec.gov/litigation/litreleases/2012/lr22305.htm
Pursuant to subpoenas dating back to September 2011, Wells Fargo Bank was obligated to produce (and agreed to produce) documents to the Commission, but has failed to do so. Accordingly, the Commission filed its Application for an Order Requiring Compliance with Administrative Subpoenas. The issues and findings are intimately related to the case at bar and is authorized under California Evidence Code § 452.

SEC PRESS RELEASE

U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 22305 / March 23, 2012
Securities and Exchange Commission v. Wells Fargo & Company, Civil Action No. CV-1280087 CRB Misc. (N.D. Cal. March 23, 2012)
SEC Files Subpoena Enforcement Action Against Wells Fargo for Failure to Produce Documents in Mortgage-Backed Securities Investigation
The Securities and Exchange Commission announced today that it has filed a subpoena enforcement action in the U.S. District Court for the Northern District of California against Wells Fargo & Company. According to the filing, the Commission is investigating possible fraud in connection with Wells Fargo’s sale of nearly $60 billion in residential mortgage-backed securities to investors. Pursuant to subpoenas dating back to September 2011, the bank was obligated to produce (and agreed to produce) documents to the Commission, but has failed to do so. Accordingly, the Commission filed its Application for an Order Requiring Compliance with Administrative Subpoenas.
The Commission’s action relates to its investigation into whether Wells Fargo made material misrepresentations or omitted material facts in a series of offerings between September 2006 and early 2008. The Commission’s application explains that, in connection with the securitization of the loans, a due diligence review of a sample of the loans in each offering was performed. Certain loans within that sample would be dropped from the offering for failure to comply with Wells Fargo’s loan underwriting standards. However, according to the Commission, it does not appear that Wells Fargo took any steps to address similar deficiencies in the remainder of the loans in the pool, which were securitized and sold to investors. The Commission is investigating, among other things, whether Wells Fargo misrepresented to investors that the loans being securitized complied with the bank’s loan underwriting standards. The staff in the Commission’s San Francisco Regional Office issued several subpoenas to Wells Fargo since September 2011 seeking, among other things, materials related to due diligence and to the bank’s underwriting guidelines. According to the Commission, Wells Fargo agreed to produce the documents, and set forth a timetable for doing so, yet has failed to produce many of the materials.

More info:

Published by: Barry Fagan Esq. on Mar 24, 2012
Copyright:Attribution Non-commercial
List Price: $5.00 Buy Now

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
See more
See less

12/11/2013

$5.00

USD

You're Reading a Free Preview
Pages 2 to 3 are not shown in this preview.

Activity (7)

You've already reviewed this. Edit your review.
1 hundred reads
kjdjdawson liked this
kjdjdawson liked this
kjdjdawson liked this
kjdjdawson liked this
Ren liked this
Ren liked this

You're Reading a Free Preview

Download
scribd
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->