By Matthew Russell Lee, Patreon
BBC - Guardian UK - Honduras - ESPN
SDNY COURTHOUSE, Dec 28 – Wells Fargo has been sued by shareholders for alleged non-compliance even with the consent ordered it reached with the Federal Reserve System.
On December 28, U.S. District Court for the Southern District of New York Judge Gregory H. Woods held a proceeding. Inner City Press covered it.
The plaintiffs cite Wells Fargo's rosy press releases then complain that "Wells Fargo was for from complying with the regulators' directive, including repeatedly submitting insufficiently developed and inadquate remediation plans, struggling to meet deadlines, and failing to implement meaningful reforms."
Judge Woods instructed the parties on the deadlines which are October 28 for fact discovery and depositions, and February 27, 2023 for motions for summary judgment, if any.
The case is In Re Wells Fargo & Company Securities Ligitation, 20-cv-4494 (Woods)
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