Wells Fargo announced that it reached a settlement with plaintiffs who filed a securities fraud class action suit against the company in California.
As part of the settlement, Wells Fargo said in a statement that it denied the claims and allegations in the action and entered into the agreement in principle to avoid the cost and disruption of further litigation.
Two days after announcing the settlement, Wells Fargo launched a marketing campaign to emphasize the company’s commitment to re-establish trust with stakeholders. Read on for details of the settlement, Moody’s analysis of the impact and more on the marketing campaign CEO Tim Sloan called a “turning point” for the company.
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