Has anyone else received notice of a class action lawsuit? Seems like every WF employee with 402k would be impacted as lawsuit based upon purchase or aquiring common stock for WF between 2/2018 - 3/2020.
Question is, does anyone know how to obtain records of all 401k transactions going back to 2018?
I just got my notice in the mail today
Throw it away. Impossible to get documents needed to submit unless you have/had millions in stock.
401k shares will not count in this lawsuit as WF owns the shares and you have a "share equivalent" asset in your 401k account. Payoff appears to be targeting 53 cents per share purchased in the time frame indicated but you have to report both bought and sold. Any you bought and then sold at a profit will be deducted from your settlement. Any you still hold that are above your purchase price most likely won't count either. Will be hard to qualify. This appears to be to recover sales at losses only. Poster who said they filled out their form may be full of it since you need to provide evidence with it. Filling out the form doesn't get you squat. Shares you received after option strike date due count but again only if you later sold at a loss. I sold one batch of 224 shares awarded during the lawsuit period at a loss due to a tax situation so I'm expecting about $118. Have printed off the documents from Empower showing the purchase and sale of the shares.
@wzg. Mmmmmmmmmmm donuts!
As another poster said, every time I've been in a class action lawsuit I get a letter about how they've got a $100 million settlement, $40 million to the lawyers, and $2 or so per claimant. Don't expect to get much more than enough for a donut or two, and it could be years from now anyway.
Lawyers are the only ones making money
I need to open a bar where we all post our wells fargo settlement checks on the wall. I’ve got a 3 dollar and change check sitting here from the last one that I’ll happily post.
Yea, I got my notice in the mail, filled out my form and sent it in.
Now I await the check that never seems to be over $1.87.
Can’t speak for this one particularly, but in the 3 (!) prior lawsuits - the lawyers get this data from WFC. I’ve never had to provide the info myself.