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EHRENHAUS v. BAKER

No. COA10-1034.

717 S.E.2d 9 (2011)

Irving EHRENHAUS, On Behalf of Himself and All Others Similarly Situated, Plaintiff-appellee, v. John D. BAKER, II, Peter C. Browning, John T. Casteen, III, Jerry Gitt, William H. Goodwin, Jr., Maryellen C. Herringer, Robert A. Ingram, Donald M. James, Mackey J. McDonald, Joseph Neubauer, Timothy D. Proctor, Ernest S. Rady, Van I. Richey, Ruth G. Shaw, Lanty L. Smith, Dona Davis Young, Wachovia Corporation and Wells Fargo & Company, Defendants-appellees, v. Norwood Robinson and John H. Loughridge, Jr., Objectorsappellants.

Court of Appeals of North Carolina.

October 4, 2011.

Attorney(s) appearing for the Case

Greg Jones & Associates, P.A., by Gregory Jones , Wilmington, and Wolf Popper LLP, by Robert M. Kornreich , Chet Waldman , and Carl L. Stine , for Plaintiff-appellee.

Robinson Bradshaw & Hinson, P.A., Charlotte, by Robert W. Fuller , Mark W. Merritt , Louis A. Bledsoe, III , and Adam K. Doerr , for Defendants-appellees.

Norwood Robinson and John H. Loughridge , Winston-Salem, pro se.

HUNTER, JR., ROBERT N., Judge.

I. Introduction

As of 30 September 2008, Wachovia Corporation ("Wachovia") was the nation?s fourth largest banking institution. Founded in 1908, Wachovia?s stock was widely held throughout this state. Many regarded Wachovia as a conservative, sound financial institution that had survived previous financial crises such as the Great Depression. When the 2008 financial collapse began, Wachovia's loan portfolio was encumbered with...

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