NEW YORK, Feb. 5, 2018 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Wells Fargo & Company (“Wells Fargo” or the “Company”)
(cusip:949746101). Investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether Wells Fargo and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
[Click here to join a class action]
On February 2, 2018, citing “recent and widespread consumer abuses and other compliance breakdowns by Wells Fargo,” the U.S. Federal Reserve announced “that it would restrict the growth of the firm until it sufficiently improves its governance and controls.” The Federal Reserve also announced that “Wells Fargo will replace three current board members by April and a fourth board member by the end of the year.” Following this announcement, Wells Fargo’s share price fell roughly 6% in after-hours trading on February 2, 2018, and has fallen sharply during intraday trading on February 5, 2018.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
CONTACT:Robert S. Willoughby
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SOURCE Pomerantz LLP
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