SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Shareholders of Wells Fargo & Company of a Class Action Lawsuit and a Lead Plaintiff Deadline of December 29, 2020 - WFC
New York, New York--(Newsfile Corp. - November 18, 2020) - The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of Wells Fargo & Company ("Wells Fargo") (NYSE: WFC) between October 13, 2017 and October 13, 2020. You are hereby notified that a securities class action lawsuit has been commenced in the the United States District Court for the Northern District of California. To get more information go to:
https://www.zlk.com/pslra-1/wells-fargo-company-loss-submission-form-2?prid=11036&wire=5
or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500. There is no cost or obligation to you.
The complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: 1) although defendants reassured investors that Wells Fargo's commercial credit portfolios were of exceptional credit quality and the product of robust, industry-leading underwriting and due diligence policies and procedures, Wells Fargo actually fueled its rapid commercial loan growth by lending to businesses that posed a heightened risk of default; 2) Wells Fargo systematically concealed these credit risks by artificially inflating the incomes generated by borrowing businesses, relaxing or failing to follow applicable underwriting procedures, and circumventing applicable risk controls; and 3) Wells Fargo exacerbated the threat posed by its defective commercial debt by packaging the loans into CLOs and CMBS and widely distributing these securitized products throughout the financial system.
If you suffered a loss in Wells Fargo you have until December 29, 2020 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Levi & Korsinsky is a nationally recognized firm with offices in New York, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/68481
