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WFC.US
id: 720

Wells Fargo (WFC) $1 Billion Shareholder Settlement

S.D. New York
Court
1:20-cv-04494
Case number
02 Feb 2018
Class period Start
12 Mar 2020
Class period End
05 Oct 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
Accepting Late Claims
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
08 September 2023
Exclusion deadline
18 August 2023
Objection deadline
18 August 2023
Hearing deadline
18 August 2023
Trades matching type
LIFO
+$1,000,000,000
Cash 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