Judge Grants Early Approval To Wells Fargo Deal

Law360, New York (August 3, 2007, 12:00 AM EDT) -- A federal judge has given preliminary approval to Wells Fargo & Co.’s $1 million settlement to resolve allegations by investors that its mutual fund advisers paid kickbacks to brokers in a scheme to steer business its way.

Judge William Alsup acknowledged Friday that the settlement figure was small considering the amount of work that went into the case, but said the damage figure would be small for any investor after discounting for possibilities of success.

“Even though the settlement amount may well be disappointing to class...
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