Trust Updates Archive
Conversion Litigation
***************** Parsky Settlement Hearing Parties in the proprietary mutual fund conversion class action Parsky
v. Wachovia (formerly First Union) have reached a tentative settlement
of $23 million. A hearing on the settlement is scheduled for October 24.
Parsky was filed February 10, 2000 and focused on whether the bank's
conversion "consent and disclosure letter" established a contract between
the bank and account powerholders.
For more details see the October issue of Trust Regulatory News.
-- Copyright ©2003 A.M. Publishing, Inc., Trust Regulatory News
No statement in this issue is offered as or should
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