Wells Fargo Investors Get Class Status in DEI Hiring Suit (1)

Wells Fargo & Co. investors won class status in their lawsuit alleging the banking giant misled them over a diverse hiring policy that really contained fake interviews for minority candidates it had no intention of hiring.

Judge Trina L. Thompson certified a class of those who invested and were purported to be damaged from Feb. 24, 2021, through June 9, 2022, according to an order entered in the US District Court for the Northern District of California.

The plaintiffs satisfactorily claimed there were a lot of potentially affected investors, and that they were entitled to a fraud-on-the-market presumption of reliance, ...