NEW YORK--(BUSINESS WIRE)--Levi & Korsinsky is investigating potential claims on behalf of purchasers of Wells Fargo & Company (“Wells Fargo” or the “Company”) (NYSE: WFC) securities concerning possible violations of federal securities laws.
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On February 28, 2012, the Company filed its annual report for the period ended December 31, 2011, in which it disclosed the receipt of a Wells Notice from the United States Securities and Exchange Commission (“SEC”) concerning its disclosures in mortgage-backed securities offering documents. The Wells Notice indicates the SEC’s intention to bring an enforcement action upon Wells Fargo and providing the Company with an opportunity to provide information why such action should not be brought.
Wells Fargo also disclosed that the Company is under investigation for concerns relating to potential violations of fair lending laws and other laws and regulations relating to mortgage origination practices. Wells Fargo is also under investigation to determine whether the Company properly disclosed the facts and risks associated with residential mortgage-backed securities in offering documents.
If you own Wells Fargo stock and wish to obtain additional information about the investigation and your legal rights, please contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://www.zlk.com.
Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. Attorney advertising. Prior results do not guarantee similar outcomes.