Ex-Wells Fargo Adviser Gets Class Cert. Over Deferred Comp.

Law360 (October 10, 2018, 9:35 PM EDT) -- A South Carolina federal judge granted class action status Tuesday to a former Wells Fargo financial adviser's suit alleging the bank improperly cut him and other employees out of deferred compensation they were owed under a retirement benefits plan.

Plaintiff Robert Berry, who retired from the firm in 2014, had sought certification of a proposed class of Wells Fargo Advisors deferred compensation plan participants who have been denied payouts under a forfeiture clause applicable to departing employees.

This clause, according to Berry, runs afoul of certain Employee Retirement Income Security Act anti-forfeiture and other provisions that the bank has skirted by misclassifying the...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!