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WFC.US
id: 571

Wells Fargo (WFC) $300 MM Securities Settlement

It is still possible to file a late claim. The court will decide whether to accept late claims or not.
N.D. California
Court
3:18-cv-03948-JD
Case number
03 Nov 2016
Class period Start
03 Aug 2017
Class period End
21 Aug 2023
Claim deadline
Wells Fargo (WFC) agreed to pay $300'000'000 to settle a securities class action lawsuit to avoid further litigation.

The Complaint alleged that the Company and its Leaders knowingly concealed and made false statements about Collateral Protection Insurance and Guaranteed Asset Protection insurance, allegedly in violation of the Securities Exchange Act of 1934.

The Complaint further alleged that the omissions and false and misleading statements artificially inflated the price of Wells Fargo’s common stock (WFC) and that, when the Company disclosed the true facts, Wells Fargo’s stock price dropped.
Alleged Offence
Misleading Statements
Failure to Disclose
Negligence
Omissions
Suspected Party
Directors
Management
Service Provider
Security Type
Stocks
Trade Direction
Long
Filing date
14 February 2018
Plaintiffs
Construction Laborers Pension Trust for Southern California
Attorneys
Robbins Geller Rudman & Dowd LLP
Defendants
Timothy J. Sloan, John R. Shrewsberry, Stephen Sanger, Mary Mack
Judge
Hon. James Donato
Administrator
Gilardi & Co LLC
Court hearing date
17 August 2023
Exclusion deadline
26 January 2023
Objection deadline
27 July 2023
Hearing deadline
27 July 2023
Trades matching type
FIFO
+$300,000,000
Total Settlement Amount

Wells Fargo & Company

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internati...

    Ticker
    WFC.US
    ISIN
    US9497461015
    CIK
    72971
    Sector
    Financial Services
    Industry
    Banks - Diversified
    Country
    USA
    Address
    420 Montgomery Street, San Francisco, CA, United States, 94104