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Wells Fargo to pay $480M to resolve suit related to sales scandal

(Reuters) — Wells Fargo & Co. said on Friday it will pay $480 million to resolve a securities fraud lawsuit related to a sales scandal that surfaced in 2016.

The class action lawsuit in the District Court for the Northern District of California alleged that the bank made certain misstatements and omissions in disclosures related to its sales practices.

http://www.businessinsurance.com/article/20180507/NEWS06/912321098/Wells-Fargo-Banks-to-pay-$480-million-to-resolve-lawsuit-related-to-sales-scanda?utm_campaign=BI20180507BreakingNewsAlert&utm_medium=email&utm_source=ActiveCampaign

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