The Delaware Court of Chancery has declined to strike certain allegations made in an amended complaint filed by Wells Fargo Bank N.A., as the trustee for a Bear Stearns investment vehicle, against EMC Mortgage LLC, which sold a portfolio of mortgage loans to the trust. The court ruled that the allegations were relevant to Wells Fargo’s claims and did not unfairly prejudice EMC.
Chancellor Leo E. Strine Jr. issued the letter opinion January 17 inBear Stearns Mortgage Funding Trust 2007-AR2 v. EMC Mortgage LLC .
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