NEW ORLEANS--(BUSINESS WIRE)--ClaimsFiler, a FREE shareholder information service, reminds investors that they have until April 16, 2018 to file lead plaintiff applications in a securities class action lawsuit against Wells Fargo & Company (NYSE:WFC), if they purchased the Company’s securities between January 13, 2017, and July 27, 2017, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of New York.
Wells Fargo investors should visit us at https://www.claimsfiler.com/cases/view-wells-fargo-amp-company-securities-litigation-1 or call to speak to our claim center toll-free at (844) 367-9658.
About the Lawsuit
Wells Fargo and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On July 27, 2017, The New York Times reported that, based on an internal Wells Fargo report, “[m]ore than 800,000 people who took out car loans from Wells Fargo were charged for auto insurance they did not need,” and that “[t]he expense of the unneeded insurance…pushed roughly 274,000 Wells Fargo customers into delinquency and resulted in almost 25,000 wrongful vehicle repossessions,” and it estimated “that the bank owed $73 million to wronged customers.”
On this news, the price of Wells Fargo’s shares plummeted.
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