Banking
Apr. 3, 2025
San Francisco judge advances $100M Wells Fargo settlement
A San Francisco judge greenlit a $100 million settlement in a shareholder lawsuit against Wells Fargo, alleging officers ignored risk and compliance duties. Preliminary approval is set for April 23.
A San Francisco judge paved the way Wednesday for a $100 million settlement in a shareholder derivative lawsuit accusing Wells Fargo officers and directors of neglecting risk management and regulatory compliance duties.
An attorney for the plaintiffs George Aguilar, a partner at Robbins LLP, wrote in a notice that the payment in the proposed settlement would be the third largest derivative settlement in California state court history.
San Francisco Superior Court Judge Je...
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