April 04, 2022
Wells Fargo & Co. agreed to pay $32.5 million to resolve a proposed class action from workers alleging it violated federal benefits law through mismanagement of their employee 401(k) plan, according to a proposed settlement filed in Minnesota federal court.
May 12, 2021
Wells Fargo must face a proposed class action accusing it of wrongly including proprietary investment options in its employee 401(k) plan and engaging in prohibited party-in-interest and self-dealing transactions, a Minnesota federal judge ruled Wednesday.