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WFC.US
id: 720

Wells Fargo (WFC) $1 Billion Shareholder Settlement

$1,000,000,000
Cash 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 Type
US Securities Class Action
Case Status
Distribution Started
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