Pension funds sue Wells Fargo, alleging executives breached fiduciary duties

A participant in the Wells Fargo 401(k) Plan sued plan executives, corporate executives and several corporate entities alleging that executives failed in their fiduciary duties to manage the plan.

Wells Fargo Arbitration – Free download as PDF File (.pdf), Text File (.txt) or read online for free. Arbitration and dismissal motion filed by Wells Fargo in Utah federal court case involving putative class-action lawsuit over unauthorized customer accounts.

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Wells Fargo & Co faces a new U.S. lawsuit claiming that it funneled more than $3 billion of employee retirement savings into expensive, underperforming proprietary mutual funds to enrich itself. The proposed class-action lawsuit, filed on Tuesday in federal court in Minnesota, accused the third-largest

By jonathan stempel nov 25 (Reuters) – Wells Fargo & Co faces a new U.S. lawsuit claiming that it funneled more than $3 billion of employee retirement savings into expensive, underperforming.

Wells Fargo sued, again, for using in-house funds in 401(k) plan The firm earlier this year won dismissal of a lawsuit alleging self-dealing through use of its target-date funds Nov 21, 2017 @ 12.

monitor investment funds, the plan sponsor and its employees are relieved of the liability of being a fiduciary. Plan administration The DOL’s position is that a plan investment committee is exercising discretion in the administration of a plan by choosing an investment manager, and as such is a fiduciary.

The lawsuit, filed by employees led by John Meiners, from St. Louis, seeks to recoup excess fees and unrealized profits stemming from Wells Fargo’s alleged breach of fiduciary duties to all 401(k) participants over the last six years, the complaint said. A Wells Fargo spokesman had no immediate comment on Friday.

Banks with large brokerage arms, including Bank of America Corp., Wells Fargo & Co., and UBS Group AG stand to be affected by the changes, according to RBC. Brokers who pitch retirement plans..

Fiduciary Duty [3/4] A participant in the Wells Fargo 401(k) Plan sued plan executives, corporate executives and several corporate entities alleging that executives failed in their fiduciary duties to manage the plan’s.

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Law360, New York (January 23, 2013, 7:34 PM EST) — A California federal judge said Tuesday that investors who lost money in a massive Ponzi scheme at Medical Capital Holdings Inc. can sue Wells Fargo.

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