Judge Allows Suit Against Wells Fargo's Board To Press On

Law360, New York (May 5, 2017, 2:47 PM EDT) -- A federal judge in California on Thursday allowed a shareholder derivative suit against Wells Fargo & Co. and current and former members of its board of directors to move forward, saying that the plaintiffs had sufficiently alleged that the board ignored evidence of unauthorized account generation.

U.S. District Judge Jon S. Tigar said in a 37-page opinion that the shareholder plaintiffs had brought enough evidence that the board either was negligent in not being aware of reports of fake account generation by thousands of Wells Fargo employees, or ignored those reports for the complaint to survive the motion to dismiss filed...

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?
Ask a question!