Split 5th Circ. Upholds Oxy's $38M Win Over Wells Fargo Bank

By Hannah Albarazi

A split Fifth Circuit panel upheld a $38 million judgment against Wells Fargo in a published opinion Wednesday, affirming that the bank breached its trustee duties by failing to timely sell Occidental Petroleum Corp. stock and is judicially estopped from arguing that the trust agreement was not a contract.

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