Awards of $2.73 million in damages and $201,000 in attorney fees against Wells Fargo in a real estate dispute have been vacated, and the suit tossed out, by a New Jersey appeals court.
The Appellate Division, reversing a Bergen County trial judge’s 2013 decision, found “no basis in the record … to conclude that defendant breached its implied covenant of good faith and fair dealing” in backing out of a deal to purchase two adjacent Wyckoff properties for construction of a bank branch.
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