Welcome to the Wells Fargo Securities Litigation Website.
The information contained on this web page is only a summary of information presented in more detail in the Notice of (I) Pendency of Class Action and Proposed Settlement; (II) Settlement Fairness Hearing; and (III) Motion for Attorneys’ Fees and Litigation Expenses (the “Notice”). Because this website is just a summary, you should review the Notice for additional details.
The Court-appointed Lead Plaintiffs Handelsbanken Fonder AB; Public Employees’ Retirement System of Mississippi; State of Rhode Island, Office of the General Treasurer; and Louisiana Sheriffs’ Pension & Relief Fund, on behalf of themselves and the Settlement Class, have settled the Action for $1,000,000,000 in cash ("Settlement"). The Settlement resolves all claims in the Action.
On September 8, 2023, the Court held a hearing to consider final approval of the Settlement and other matters. At the hearing, the Court approved the Settlement and Plan of Allocation and Lead Counsel’s motion for attorney's fees and litigation expenses. The same day, the Court entered a Judgment Approving Class Action, an Order Approving Plan of Allocation of Net Settlement Fund, and an Order Awarding Attorneys’ Fees and Litigation Expenses.
If you are a member of the Settlement Class, your rights will be affected, and you may be eligible for a payment from the Settlement. Please read the Notice to fully understand your rights and options.
The Settlement Class consists of:
All persons or entities who purchased or otherwise acquired the common stock of Wells Fargo during the Class Period (i.e., from February 2, 2018, through March 12, 2020, inclusive), and were damaged thereby, except for certain persons and entities who are excluded from the Settlement Class by definition (see paragraph 17 of the Notice).
If you are a member of the Settlement Class, in order to be potentially eligible to receive a payment from the Settlement, you must submit a Claim Form postmarked (or submitted online) no later than October 5, 2023.
Payments to eligible claimants will be made only after any appeals are resolved and after the completion of all claims processing. Please be patient, as this process will take some time to complete.