Welcome

Wells Fargo Derivative Suit Parties Must Weigh in on Fee Expert

Oct. 24, 2019, 7:42 PM

Wells Fargo & Co. leadership and shareholders alleging the board steered the bank into the creation of millions of fake customer accounts must explain to a federal judge in California why he shouldn’t appoint an expert on fees.

The parties reached a settlement in March that would require the executives and directors to reimburse the lender an additional $240 million through their insurers and to implement sweeping corporate governance reforms.

Now the parties want final approval of the settlement and $68 million in attorneys’ fees. But Judge Jon S. Tigar of the U.S. District Court for the Northern District of ...

To read the full article log in.

Learn more about a Bloomberg Law subscription.