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U S corporate reformers face more fights to get proxy votes | Hellenic Shipping News Worldwide
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U S corporate reformers face more fights to get proxy votes
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U S corporate reformers face more fights to get proxy votes
reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
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A federal judge in San Francisco has chosen a Hawaii-based pension fund to lead a highly watched case accusing Wells Fargo of shoddy underwriting affecting commercial mortgage-backed securities.
U.S. District Judge William Alsup on Monday named Hawaii Employees’ Retirement System (HERS) the lead plaintiff in the case claiming the faulty mortgage lending practices that contributed to the 2008 financial crisis also infected Wells Fargo’s commercial loan portfolio. The fund alleges losses of $17 million, which Alsup said put it ahead of Norfolk Pension Fund, another proposed lead plaintiff which claimed it lost $6 million.
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