{"id":4606,"date":"2008-05-09T00:52:53","date_gmt":"2008-05-09T00:52:53","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2008\/05\/wachovia_securities_llc_sued_f"},"modified":"2022-03-25T15:16:14","modified_gmt":"2022-03-25T20:16:14","slug":"wachovia-securities-llc-sued-f","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/wachovia-securities-llc-sued-f\/","title":{"rendered":"Wachovia Securities LLC Sued For Alleged Fraud Involving the Sale of Le Nature’s Senior Subordinated Notes"},"content":{"rendered":"

In Los Angeles Superior Court, a number of life insurance companies, mutual funds, retirement systems, and other investors are suing Wachovia Securities LLC for alleged fraud related to the sale of senior subordinated notes for beverage maker Le Nature’s Inc. The Pennsylvania-based company filed for bankruptcy in 2006.<\/p>\n

Causes of action include fraud, negligent misrepresentation, aiding and abetting fraud, and fraudulent inducement. California Public Employees’ Retirement System (CalPERS) and the Nature Conservancy are among the scores of plaintiffs.<\/p>\n

The plaintiffs are accusing Wachovia of knowing about the fraud and financial problems at Le Nature’s but keeping this information from investors so that the beverage company would keep paying the firm substantial fees. They say the lack of disclosure also helped Wachovia’s high-yield debt business.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

In Los Angeles Superior Court, a number of life insurance companies, mutual funds, retirement systems, and other investors are suing Wachovia Securities LLC for alleged fraud related to the sale of senior subordinated notes for beverage maker Le Nature’s Inc. The Pennsylvania-based company filed for bankruptcy in 2006. Causes of action include fraud, negligent misrepresentation, […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3738,3821],"tags":[],"class_list":["post-4606","post","type-post","status-publish","format-standard","hentry","category-investor-fraud","category-wachovia"],"yoast_head":"\nWachovia Securities LLC Sued For Alleged Fraud Involving the Sale of Le Nature's Senior Subordinated Notes — Investor Lawyers Blog — May 9, 2008<\/title>\n<meta name=\"description\" content=\"In Los Angeles Superior Court, a number of life insurance companies, mutual funds, retirement systems, and other investors are suing Wachovia Securities — May 9, 2008\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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