Nonprofit Sues U.S. Bank For Lost Investments
Photo by: epicharmus
The nonprofit Woodmen of the World, a financial services group has filed a lawsuit against U.S. Bank National Association for $29.7 million in investments it claims U.S. Bank lost. Woodmen has accused U.S. bank of breach of contract, gross negligence, breach of fiduciary duty, fraudulent misrepresentation and fraudulent concealment. It is alleged that a portion of Woodmen’s money was invested in high risk securities, which were not doing as well as U.S. Bank led them to believe. According to the Associated Press, these high risk securities were mortgage-backed securities which have been at the center of our countries financial troubles.To read the rest of this article, please follow the hyperlink to the Avvo web-page.
