Wells Fargo Leaders Reach Deal in Hiring Practices Suit (1)

Wells Fargo & Co. and shareholders have agreed to end a lawsuit against company leaders for their alleged role in a scandal over diversity hiring practices, according to a federal court filing.

The parties have reached a settlement in principle in the shareholder derivative suit, they told Judge Trina L. Thompson of the US District Court for the Northern District of California.

The suit parallels allegations in a class action before the same judge that Wells Fargo touted a policy of considering a diverse slate of job candidates while conducting sham interviews with minority applicants. Thompson granted class status to ...