![]() What was the Wells Fargo account scandal? “If approved, this settlement will help compensate hundreds of thousands of investors – state employees, nurses, teachers, police, firefighters and others – whose critical retirement savings were impacted by Wells Fargo’s fraudulent business practices,” Steven Toll, managing partner at Cohen Milstein Sellers & Toll, said in a Monday release. ![]() Plaintiffs include pension funds in Mississippi, Rhode Island and Louisiana. The settlement, if approved by the court, would be among the largest recoveries from a securities class action lawsuit of all time, according to the plaintiffs' attorneys. ![]() Wells Fargo has agreed to pay $1 billion to settle a class action lawsuit that accuses the bank of hurting investors by overstating how much progress it made fixing up its practices in the aftermath of its fake accounts scandal. ![]()
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