Wells Fargo Wins Dismissal of Investor Suit Over Fake Interviews

A federal judge dismissed a shareholder lawsuit against Wells Fargo & Co. over allegations the bank set up fake job interviews to meet in-house diversity guidelines.

Investors allege Wells Fargo held job interviews for Black and female candidates for positions that were already filled. They accused the bank of securities fraud, saying Wells Fargo made a series of misleading statements about its diversity hiring policy.

Judge Trina Thompson in the US District Court for the Northern District of California said that while some sham interviews may have occurred, the complaint didn’t adequately allege the interviews took place between February 2021 ...