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 issued on April 7, 2020, by the Honorable Jon S. Tigar of the United States District Court for the Northern District of California, the above-captioned derivative action (the “Derivative Action”), has been granted final approval. Judge Tigar determined that the settlement is fair, reasonable and adequate. Further, the Court approved an application by Co-Lead Counsel in the Derivative Action for an award of attorneys’ fees in the amount of $52.8 million and reimbursement awards for Co-Lead Plaintiffs to be paid from Co-Lead Counsel’s attorneys’ fees of $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.
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.