Wells Fargo Settles Financial Advisers' Wage Suit For $3.5M

Law360, Springfield (July 14, 2017, 9:55 PM EDT) -- A putative class of Wells Fargo Advisors LLC employees asked an Illinois federal judge to approve a $3.5 million settlement on Thursday and end the group’s Fair Labor Standards Act suit that said the banking giant set up its financial adviser trainees for expensive failure.

The putative class of employees sued Wells Fargo in 2014, claiming the bank’s training program violated federal minimum wage law, the Fair Labor Standards Act and a handful of state labor laws. The workers allege that Wells Fargo’s five-year financial adviser...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Williams v. Wells Fargo Advisors, LLC


Case Number

1:14-cv-01981

Court

Illinois Northern

Nature of Suit

710(Labor: Fair Standards)

Judge

Honorable John J. Tharp, Jr

Date Filed

March 20, 2014

Law Firms

Companies

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.