| Wells Fargo
Is Sued in SDNY by Shareholders From Scam
Compliance with Fed Consent Order
By Matthew
Russell Lee, Patreon
BBC
- Guardian
UK - Honduras
- ESPN
SDNY COURTHOUSE,
Dec 28 – Wells Fargo
has been sued by shareholders
for alleged non-compliance
even with the consent ordered
it reached with the Federal
Reserve
System.
On December 28, U.S. District
Court for the Southern
District of New York
Judge Gregory H. Woods held a
proceeding. Inner City Press
covered it.
The
plaintiffs cite Wells Fargo's
rosy press releases then
complain that "Wells Fargo was
for from complying with the
regulators' directive,
including repeatedly
submitting insufficiently
developed and inadquate
remediation plans, struggling
to meet deadlines, and failing
to implement meaningful
reforms."
Judge Woods
instructed the parties on the
deadlines which are October 28
for fact discovery and
depositions, and February 27,
2023 for motions for summary
judgment, if any.
The case is In Re
Wells Fargo & Company
Securities Ligitation,
20-cv-4494 (Woods)
***
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