A former Wells Fargo & Co. financial adviser is moving forward with claims that the company failed to properly fund an executive deferred compensation plan in violation of federal law (Berry v. Wells Fargo & Co., D.S.C., No. 3:17-cv-00304-JFA, 7/31/17).
A federal judge on July 31 dismissed most of Robert Berry’s class action claims against the financial institution after finding he lacked standing to pursue them. However, the judge refused to dismiss Berry’s claim that Wells Fargo didn’t adequately fund a top-hat plan providing deferred compensation for certain highly paid executives.
In allowing this claim to proceed, the ...
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