WFC.US
id: 571
Wells Fargo (WFC) $300 MM Securities Settlement
The process of distributing settlement funds to claimants has started.
$300,000,000
Cash SettlementN.D. California
Court3:18-cv-03948-JD
Case number11/03/2016
Class period Start08/03/2017
Class period End08/21/2023
Claim deadlineWells 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.
Case Status
Disbursement
Alleged Offence
Misleading Statements,
Failure to Disclose,
Negligence,
Omissions
Suspected Party
Directors,
Management,
Service Provider
Security Type
Stocks
Trade Direction
Long
Payout per Share
0.66
Filing date
02/14/2018
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
08/17/2023
Exclusion deadline
01/26/2023
Objection deadline
07/27/2023
Hearing deadline
07/27/2023
Trades matching type
FIFO