Wells Fargo (WFC) $1 Billion Shareholder Settlement

S.D. New York

Court

1:20-cv-04494

Case number

02/02/2018

Class period Start

03/12/2020

Class period End

10/05/2023

Claim deadline

Wells Fargo has reached a $1 billion settlement with investors following allegations that the bank deceived them regarding its regulatory compliance in the wake of the fraudulent sales scandal. 

The federal lawsuit accused $WFC of making "materially false and misleading statements" about its adherence to consent orders issued by federal regulators regarding past practices. Wells Fargo has been subject to regulatory penalties since the revelation in 2016 that the bank had opened millions of unauthorized customer accounts.

To avoid protracted litigation, Wells Fargo has agreed to settle with shareholders, reaching a substantial $1 billion resolution.

Any Investor who purchased $WFC between February 2018 and March 2020 may be eligible for a payout.

For questions please contact George Scott - [email protected]

Case Status

Disbursement

Alleged Offence

Misleading Statements,

Failure to Disclose,

Malpractice,

Omissions

Suspected Party

Directors,

Management

Security Type

Stocks

Trade Direction

Long

Payout per Share

0.53

Plaintiffs

Handelsbanken Fonder AB; Public Employees’ Retirement System of Mississippi, State of Rhode Island, Office of the General Treasurer; Louisiana Sheriffs’ Pension & Relief Fund

Attorneys

Cohen Milstein Sellers & Toll PLLC, Bernstein Litowitz Berger & Grossmann LLP

Defendants

Timothy J. Sloan, John R. Shrewsberry, C. Allen Parker, Elizabeth “Betsy” Duke

Judge

Hon. Gregory H. Woods

Administrator

EPIQ

Court hearing date

09/08/2023

Exclusion deadline

08/18/2023

Objection deadline

08/18/2023

Hearing deadline

08/18/2023

Trades matching type

LIFO

Disbursement date

10/22/2024

+$1,000,000,000

Cash Settlement Amount