The Gross Law Firm notifies investors that a class action has commenced in the United States District Court for the Northern District of California on behalf of shareholders of Wells Fargo & Company 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) Wells Fargo had misrepresented its commitment to diversity in the Company’s workplace; (ii) Wells Fargo conducted fake job interviews in order to meet its Diverse Search Requirement; (iii) the foregoing conduct subjected Wells Fargo 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 Wells Fargo’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.
To receive more information, please fill out the form.