A federal court in California granted preliminary approval to a $142 million class-action settlement in the Wells Fargo phony account scandal (Jabbari v. Wells Fargo, N.D. Cal., No. 15-cv-02159, 7/9/17).
Wells Fargo Chief Executive Officer Tim Sloan said the July 8 order from the U.S. District Court for the Northern District of California is a “major milestone” in the company’s efforts to provide relief to customers.
“We are pleased that the court found the settlement to be fair, reasonable and adequate,” Sloan said in a news release July 9.
Derek Loeser, a partner at Keller Rohrback LLP and ...
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