Wells Fargo, Investors Reach $85 Million Deal in Hiring Row (2)

Wells Fargo & Co. agreed to pay $85 million to resolve investors’ class claims that the bank misled them about its diversity hiring practices.

Investors leading the case sought preliminary court approval of the settlement in the US District Court for the Northern District of California. Their motion, including agreement terms, was filed Wednesday—two days after a proposed accord with board members in a parallel shareholder derivative lawsuit.

The lawsuits, both before Judge Trina L. Thompson, alleged Wells Fargo touted a policy of considering a diverse slate of job candidates while conducting sham interviews with minority applicants.

Thompson earlier ...