In re Wells Fargo & Company Shareholder Derivative Litigation, 3:16-cv-5541 (Northern District of California), Settlement Website
ALL RECORD AND BENEFICIAL OWNERS OF WELLS FARGO & COMPANY COMMON STOCK AS OF FEBRUARY 26, 2019 (THE “RECORD DATE”), WHO CONTINUE TO OWN SUCH SHARES (“WELLS FARGO SHAREHOLDERS”)
YOU ARE HEREBY NOTIFIED, that pursuant to an Order of the United States District Court for the Northern District of California, a hearing will be held on August 1, 2019, at 2 p.m., before the Honorable Jon S. Tigar, United States District Judge, at the United States District Court for the Northern District of California, 450 Golden Gate Avenue, San Francisco, California 94102, for the purpose of determining whether the proposed settlement of the above captioned derivative action (the “Derivative Action”), with a total settlement value of $320 million (as described below), should be approved as fair, reasonable and adequate, and whether a judgment dismissing the Defendants (as identified in the Stipulation of Settlement (“Stipulation”)) from the Derivative Action with prejudice should be entered. As part of the hearing, the Court will consider an application by Co-Lead Counsel in the Derivative Action for an award of attorneys’ fees not to exceed $68 million and reimbursement awards for Co-Lead Plaintiffs to be paid from Co-Lead Counsel’s attorneys’ fees not to exceed $25,000. Because this is a shareholder derivative action brought for the benefit of Wells Fargo, no individual Wells Fargo shareholder has the right to receive any individual compensation as a result of the settlement of this action.
If you wish to object to any aspect of the Settlement, the Fee Application, the Reimbursement Awards, or the Final Judgment and Order of Dismissal (as defined in the Stipulation), you must provide in writing your full name, appropriate proof of your Wells Fargo stock ownership as of the Record Date, the basis for your objection, and your signature. You may not ask the Court to order a larger settlement; the Court can only approve or deny the Settlement. You may also appear at the Settlement Hearing on August 1, 2019, either in person or through your own attorney. If you appear through your own attorney, you are responsible for paying that attorney. All written objections and supporting papers must: (a) clearly identify the case name and number (In re Wells Fargo & Company Shareholder Derivative Litigation, 3:16-cv-05541-JST (N.D. Cal.)); (b) be submitted to the Court either by mailing them to the Clerk of the Court for the United States District Court for the Northern District of California, 450 Golden Gate Avenue, Box 36060, San Francisco, CA 94102, or by filing them in person at any location of the United States District Court for the Northern District of California; and (c) be filed or postmarked on or before July 11, 2019.
Click here to read important documents related to the settlement. If you wish to obtain a paper copy of the Stipulation or other relevant documents, please call (888) 334-6164.