
In what is among the 20 largest all-time U.S. securities class action lawsuit settlements, Wells Fargo has agreed to pay $1 billion to settle claims that it misrepresented its compliance with 2018 Consent Orders regulators imposed on the bank in the aftermath of the company’s bogus customer account scandal. The settlement is subject to court approval. A copy of the parties’ May 15, 2023, stipulation of settlement can be found here.
Continue Reading Wells Fargo Settles Securities Suit for $1 Billion