Wells Fargo & Company Securities Litigation (2020)

If you purchased a significant amount of shares of Wells Fargo & Company (NYSE: WFC), you have certain options. Investors should register for updates.


Lawsuit Overview

Defendant:Wells Fargo & Company
Date Filed:June 4th, 2020
Industry:Major Banks
Class Start Date:April 5th, 2020
Class End Date:May 5th, 2020

According to the Complaint, Wells Fargo is a diversified financial services company that provides banking, investment, mortgage, and consumer and commercial finance products and services to individuals, businesses, and institutions in the U.S. and internationally.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Wells Fargo planned to, and did, improperly allocate government-backed loans under the Paycheck Protection Program ("PPP"), and/or had inadequate controls in place to prevent such misallocation; (ii) the foregoing foreseeably increased the Company's litigation risk with respect to PPP allocation, as well as increased regulatory scrutiny and/or potential enforcement actions; and (iii) as a result, the Company's public statements were materially false and misleading at all relevant times.

Sign up for free to create a personalized portfolio with tracking and e-mail alerts for Wells Fargo & Company

First Identified Complaint

Guofeng Ma, et al. v. Wells Fargo & Company, et al.

Date Filed:June 4th, 2020
Class Period Start:April 5th, 2020
Class Period End:May 5th, 2020
First Identified Complaint Filings
#Document TitleFiling Date