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Wells Fargo $142M Settlement May Face New Challenge (Corrected)

Aug. 25, 2020, 11:08 PMUpdated: Aug. 26, 2020, 12:10 AM

One of the objectors to Wells Fargo’s $142 million settlement in the litigation over unauthorized accounts intends to petition the U.S. Supreme Court to review the Ninth Circuit’s July decision affirming the deal.

But the objector, Scott Johnston, would be willing to accept $400,000 in exchange for waiving his appeal, according to an email provided to a federal court by class counsel.

The email was attached to a motion filed in the U.S. District Court for the Northern District of California on Aug. 21 requesting a hearing over the offer. Wells Fargo joined the motion.

Calling the objector’s basis for ...