WFC ALERT: The Klein Law Firm Announces a Lead Plaintiff Deadline of December 29, 2020 in the Class Action Filed on Behalf of Wells Fargo & Company Limited Shareholders
New York, New York--(Newsfile Corp. - November 10, 2020) - The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Wells Fargo & Company (NYSE: WFC) alleging that the Company violated federal securities laws.
Class Period: October 13, 2017 and October 13, 2020
Lead Plaintiff Deadline: December 29, 2020
Learn more about your recoverable losses in WFC:
http://www.kleinstocklaw.com/pslra-1/wells-fargo-company-loss-submission-form-2?id=10822&from=5
The filed complaint alleges that Wells Fargo & Company made 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.
Shareholders have until December 29, 2020 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
For additional information about the WFC lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click the link above.
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
J. Klein, Esq.
Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
jk@kleinstocklaw.com
Telephone: (212) 616-4899
Fax: (347) 558-9665
www.kleinstocklaw.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/67879
