BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of investors of Wells Fargo & Company (“Wells Fargo” or the “Company”) (NYSE: WFC), and in connection with recent losses suffered by Wells Fargo investors after news of a new scandal harmed the Company’s shares.
On July 27, 2017, Wells Fargo disclosed that it would pay approximately $80 million in remediation to customers that may have been financially harmed by the Company’s Collateral Protection Insurance (“CPI”) policies. Wells Fargo stated that “customers may have been charged premiums for CPI even if they were paying for their own vehicle insurance, as required, and in some cases the CPI premiums may have contributed to a default that led to their vehicle’s repossession.”
On this news, the Company’s stock price fell approximately 2.5% during intraday trading on July 28, 2017.
If you purchased Wells Fargo securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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