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Final 9-25-16 Delaware

Missouri jury awards woman $77M in case against Wells Fargo

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Missouri jury awards woman $77M in case against Wells Fargo

St. Louis,MO ( KTRS ) A Missouri jury has awarded a woman $77 million in damages in a lawsuit alleging Wells Fargo Bank mismanaged her family trusts. The St. Louis County jury sided with Barbara Burton Morriss, 78, of Olivette. Morriss sued Wells Fargo in early 2012, alleging the bank breached its fiduciary duty by […]

Missouri jury awards woman $77M in case against Wells Fargo

St. Louis,MO ( KTRS ) A Missouri jury has awarded a woman $77 million in damages in a lawsuit alleging Wells Fargo Bank mismanaged her family trusts.

The St. Louis County jury sided with Barbara Burton Morriss, 78, of Olivette.

Morriss sued Wells Fargo in early 2012, alleging the bank breached its fiduciary duty by failing to fully disclose financial transactions in two family trusts that lost millions of dollars.

Morriss was a beneficiary and co-trustee on both trusts with her son, venture capitalist B. Douglas Morris. He’s serving five years in federal prison for tax evasion.

Wells Fargo says it’s disappointed about the verdict and is weighing whether to appeal.

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