Governance & Derivative

Wells Fargo & Company 2022 (NYSE: WFC)

Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Wells Fargo & Company (NYSE: WFC).  

In May 2022, The New York Times reported that according to current and former employees, the Company had for years conducted fake job interviews of minority candidates for positions that were already filled in order to satisfy internal diversity guidelines, which subsequently resulted in investigations by the U.S. Department of Justice and the U.S. Securities and Exchange Commission. Thereafter, the Company and certain of its executives were sued in a securities class action lawsuit, charging them with failing to disclose material information during the Class Period, violating federal securities laws, which remains ongoing.

KSF’s investigation is focusing on whether Wells Fargo’s officers and/or directors breached their fiduciary duties to its shareholders or otherwise violated state or federal laws. 

If you have information that would assist KSF in its investigation, or have been a long-term holder of Wells Fargo shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com), or fill out the form on this page.