May 19, 2023
Bernstein Litowitz Berger & Grossmann LLP and Cohen Milstein Sellers & Toll PLLC served as lead counsel for investor plaintiffs as Wells Fargo agreed to pay $1 billion to settle a proposed class action accusing it of misrepresenting its progress overhauling its internal controls and compliance. The deal, unveiled on May 15, would rank among the largest securities settlements of all time. The class is represented by Laura Posner, Steven Toll, Julie Reiser, S. Douglas Bunch and Molly Bowen of Cohen Milstein, John Browne, Jeroen van Kwawegen, Michael Blatchley, Robert Kravetz, Jonathan Uslaner and Lauren Cruz of Bernstein Litowitz and Robert Klausner of Klausner Kaufman Jensen & Levinson PA.
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