Saxena White is pleased to announce that on March 20, 2014, the U.S. District Court for the District of Delaware denied the various Defendants’ motions to dismiss in In re Wilmington Trust Securities Litigation. The complaint generally alleges that Wilmington Trust misrepresented its loan loss reserve, credit risk, and underwriting practices to investors. In denying the motions, the Court explained that while Wilmington Trust told investors “that it mitigated credit risk,” in reality “investors were not receiving all of the available information as [Wilmington Trust] was concealing its true financial position.” The case against Wilmington Trust, its senior executives and board of directors, its independent auditor KPMG, and its secondary offering underwriters JPMorgan Securities and Keefe Bruyette & Woods, is now proceeding to discovery.