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Case Page

 

Case Status:    ONGOING    
On or around 06/08/2022 (Date of last review)

Filing Date: October 30, 2020

According to the Complaint, Wells Fargo & Company is a financial services and bank holding company headquartered in San Francisco, California.

The Complaint alleges that during the Class Period, Defendants made false and misleading statements and/or failed to disclose adverse information regarding Wells Fargo’s business and operations. Specifically, the Complaint alleges that during the Class Period, Defendants misrepresented the value of the Company’s business and prospects by concealing the significant defects in its underwriting and due diligence practices and deficiencies in its commercial credit portfolio and related securitized assets.

On March 15, 2021, the Court issued an Order consolidating cases and appointing Lead Plaintiff. All future docketing was ordered to be done in the lead case 20-CV-07674.

The Court issued an Order appointing Lead Counsel on June 21. Lead Plaintiff filed a consolidated amended Complaint on August 31. Defendants filed a Motion to Dismiss the consolidated amended Complaint on October 12.

On April 4, 2022, Lead Plaintiff filed a corrected consolidated amended Complaint. On May 6, the Court issued an Order granting Defendants' Motion to Dismiss. Plaintiff was given leave to amend the Complaint.

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