Wells Fargo ERISA Suit Scores Class Certification

Law360, New York (April 7, 2010, 4:01 PM EDT) -- A federal judge has certified a class of retirement plan participants in a suit accusing Wells Fargo & Co. of mismanaging the plan, although he did dismiss one count from the plaintiffs' amended complaint.

Judge Paul A. Magnuson of the U.S. District Court for the District of Minnesota decided Monday to grant the plaintiffs' motion for class certification, among other decisions.

The class, estimated to number more than 160,000, includes participants in Wells Fargo's 401(k) plan who had a balance in any one of four funds...
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