Wells Fargo Fund Reaches $25M Deal In Investor Class Action

Law360, New York (June 29, 2012, 11:27 PM ET) -- Evergreen Investment Management Co. LLC has reached a $25 million class action settlement with investors who claim the firm, now part of Wells Fargo Advantage Funds, lied about the value of a mutual fund, according to court documents filed Friday.

The investors filed several actions in 2008, claiming Evergreen presented its Ultra Short Opportunities Fund as a stable “ultrashort” bond fund with low fluctuation, when in fact it was neither.

“Although [the] lead plaintiffs believe in the merits of their case, they recognize that they would...
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