Wells settlement to pay $1.15 million
- Share via
From Times Wire Services
Wells Fargo & Co. won preliminary approval to pay $1.15 million and resolve shareholder claims that the bank failed to disclose payments made to brokerage firms.
In a lawsuit filed in federal court in San Francisco, the investors claimed Wells Fargo charged them excessive fees to pay the brokers for promoting its funds, said Adam Gutride, a lawyer for the shareholders.
Wells Fargo denied the allegations, saying the payments were lawful and properly disclosed.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
