ERISA Action Against Wells Fargo Gets Go-Ahead

Law360, New York (March 16, 2009, 12:00 AM EDT) -- A proposed class action accusing Wells Fargo & Co. of mismanaging its pension plan has been given the green light to proceed, after a federal judge refused a motion by the bank to toss the case.

Judge Paul A. Magnuson of the U.S. District Court for the District of Minnesota ruled Thursday that while one of the two named plaintiffs had no standing to bring the case, the amended complaint had sufficiently stated claims against Wells Fargo for breaches of the Employee Retirement Income Security Act...
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