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The case of Jackson v. Wells Fargo Bank, N.A., No. 2:12v1262, 2015 WL 5732090 (W.D. Pa. September 30, 2015) was filed as a class action. The named plaintiffs alleged claims arising out of lender force-placed insurance practices ("LFPI"), in this case, arising out of lender force-placed flood insurance practices. The plaintiffs alleged several claims, including alleged bad faith, as is typical in such cases. See Jackson v. Wells Fargo Bank, N.A., No. 2:12v1262, 2015 WL 5732090, *4 (W.D. Pa. September 30, 2015).
The parties' discovery was "significant," their lawyers said, and also they relied on "over 200,000 pages of documents produced" in another LFPI case. Jackson v. Wells Fargo Bank, N.A., No. 2:12v1262, 2015 WL 5732090, *4 (W.D. Pa. September 30, 2015).
After this activity, the case settled. The plaintiffs' lawyers and the defendants' lawyers stipulated that a class should be certified for settlement and the case settled accordingly. After citing to many factors for approval of the stipulation, the District Judge approved the settlement. Jackson v. Wells Fargo Bank, N.A., No. 2:12v1262, 2015 WL 5732090 (W.D. Pa. September 30, 2015).
This makes 100% of the lender force-placed insurance practice cases which have not gone to trial. To say the same thing in other words, no lender force-placed insurance practices case has been located which has ever gone to trial.
Perhaps for that reason, objections to the settlement were not, the District Judge pointed out, supported by "any controlling authority." Jackson v. Wells Fargo Bank, N.A., No. 2:12v1262, 2015 WL 5732090, *16 (W.D. Pa. September 30, 2015).
Please Read The Disclaimer. ©2015 by Dennis J. Wall, author of "Lender Force-Placed Insurance Practices" (American Bar Association 2015). All Rights Reserved. No Claim to Original U.S. Government Works.
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