Banking
Apr. 25, 2025
$100M Wells Fargo shareholder lawsuit settlement tentatively OK'd
Judge approves $100 million Wells Fargo settlement, including governance reforms and $33.3 million in stock for plaintiffs' counsel.
A judge granted preliminary approval of a $100 million settlement in a shareholder derivative lawsuit accusing Wells Fargo officers and directors of neglecting risk management and regulatory compliance duties.
If approved, the settlement will see plaintiffs' counsel's fees paid entirely in Wells Fargo stock, to the tune of $33.3 million, and governance reforms at the bank.
An attorney for the plaintiffs, George Aguilar, a partner at Robbins LLP, wrote in a memora...
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