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Wells Fargo & Company Class Action Lawsuit WFC | Deadline August 29, 2022

Wells Fargo & Company Class Action Lawsuit
(WFC Lawsuit)

The Gross Law Firm notifies investors that a class action (Wells Fargo & Company Class Action Lawsuit) has commenced in the United States District Court for the Northern District of California on behalf of shareholders of Wells Fargo & Company (WFC) who purchased common stock between February 24, 2021 and June 9, 2022.

The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) WFC had misrepresented its commitment to diversity in the Company’s workplace; (ii) WFC conducted fake job interviews in order to meet its Diverse Search Requirement; (iii) the foregoing conduct subjected WFC to an increased risk of regulatory and/or governmental scrutiny and enforcement action, including criminal charges; (iv) all of the foregoing, once revealed, was likely to negatively impact WFC’s reputation; and (v) as a result, the Company’s public statements were materially false and misleading at all relevant times.

If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.

Shareholders have until August 29, 2022 to request that the court appoint them lead plaintiff.

Wells Fargo & Company Class Action

The deadline to submit a lead plaintiff motion in a securities class action lawsuit that has been filed on behalf of investors who bought or acquired the common stock of Wells Fargo & Company (“Wells Fargo” or the “Company”) (NYSE: WFC) between February 24, 2021 and June 9, 2022, inclusive (the “Class Period”) has passed. Bernstein Liebhard LLP, a nationally recognized investor rights law firm, reminds investors of this deadline. The Securities Exchange Act of 1934 is allegedly violated in the complaint, which was filed in the United States District Court for the Northern District of California.

Wells Fargo & Company Lawsuit

Wells Fargo agreed to pay $94 million to settle charges that it forbeared the mortgages of borrowers who were having trouble paying their bills during the epidemic without the borrowers’ permission, harming their credit scores. On September 9 in a federal court in Ohio, lead plaintiff Brian Echard submitted a motion for preliminary approval of the settlement. The Wells Fargo settlement is the outcome of a nationwide class action lawsuit brought on behalf of Wells Fargo Bank clients who claim their mortgages were improperly enrolled in the bank’s Coronavirus Aid, Relief, and Economic Security (CARES) Act Forbearance program.

WFC Class Action Lawsuit

This agreement resolves a claim that Wells Fargo Bank, N.A., Wells Fargo & Co., National General Holdings Corp., and National General Insurance Company (collectively, “Defendants”) improperly added collateral protection insurance (“CPI”) policies to class members’ auto loan accounts between October 15, 2005 and September 30, 2016. On November 20, 2019, the court issued a final judgment and approved the class action settlement (dated November 4, 2019). (PDF). Because the appeals deadline has ended, the settlement is no longer appealable.

WFC Class Action

The filed complaint alleges that the defendants made false statements and/or concealed that: I Wells Fargo had misrepresented its commitment to diversity in the Company’s workplace; (ii) Wells Fargo had conducted fake job interviews in order to meet its Diverse Search Requirement; (iii) the foregoing conduct increased Wells Fargo’s risk of regulatory and/or governmental scrutiny and enforcement action, including criminal charges; and (iv) all of the foregoing.

WFC Lawsuit

Sept. 14 (Reuters) – Wells Fargo & Co (WFC.N) has settled a class-action lawsuit for $94 million, which addressed allegations that Wells Fargo forcibly placed more than 200,000 distressed mortgage customers into forbearance during the COVID-19 pandemic. A judge must approve the proposed settlement, which was submitted last week to the federal court in Columbus, Ohio. It puts to rest allegations that Wells Fargo made a decision on its own to grant forbearances to customers who inquired about their mortgages or indicated hardship but had not specifically asked for or desired relief.

WFC stock

Financial services are provided by Wells Fargo & Company. Through banking locations and offices, the Internet (www.wellsfargo.com), and other distribution channels, the Company offers a diverse range of banking, investment, and mortgage products and services, as well as consumer and commercial finance, to people, businesses, and institutions in the states, the District of Columbia, and in foreign nations. In addition to checking and savings accounts, credit and debit cards, auto, mortgage, and home equity loans, among other consumer financial services, the company also offers small business financing. The Company also provides investment management, private banking, financial planning, and fiduciary services.

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