No-Opt-Out Class Nixed In Wells Fargo ERISA Suit

Law360, New York (April 14, 2010, 1:37 PM EDT) -- A federal judge has refused to reconsider his certification of a class accusing Wells Fargo & Co. of mismanaging a retirement plan, rejecting a plaintiff's argument that he wrongly found a no-opt-out class inappropriate.

In a ruling Tuesday, Judge Paul A. Magnuson of the U.S. District Court for the District of Minnesota rejected arguments made in a Monday letter to the court by the lead plaintiff, current Wells Fargo employee Robin Figas, that she should be allowed leave to file a motion to reconsider his April...
To view the full article, register now.