Plaintiffs seek class certification in an Employee Retirement Income Security Act lawsuit, asserting seven separate counts against Wells Fargo, GreatBanc Trust Co., and former Wells Fargo CEO Tim Sloan for breaches of fiduciary duty and engaging in prohibited transactions.
https://minnlawyer.com/2022/10/05/wells-fargo-faces-401k-lawsuit/
I pulled my sh---y 401K and left. Fu-kem!
Tim Sloan was very aggressive with the company stock Buybacks, same as Charlie, ja--ing up the cost of the stock that went in to our 401Ks. Much of it being at prices significantly higher than where it is even today. I don’t know if that has anything to do with this lawsuit or not, but he’s been publicly skewered for it.
More importantly, only Wells Fargo executivesconsistently and illegally defraud their own employees through what is supposed to be an employee benefit!!!
The executives of Wells Fargo, past and present, should all be rotting in jail.
This is great news. At the class action is settled, everyone (except the lawyers) will get $1.50, along with a note that Wells Fargo doesn't admit any wrongdoing.
If somebody could post the whole article, that would be great.