$240M Wells Fargo Derivative Suit Settlement Granted First Round of Approval

Preliminary Approval Granted to $240M Settlement in Wells Fargo Shareholders Derivative Litigation

A California federal judge has granted preliminary approval to a proposed $240 million settlement that would end shareholders’ derivative litigation relating to Wells Fargo’s fake accounts scandal. Plaintiffs in the suit, including the Fire & Police Pension Association of Colorado and the City of Birmingham Retirement and Relief System allege that since at least 2011, the Board and executive management of Wells Fargo knew or consciously disregarded that its employees were illicitly creating millions of deposit and credit card accounts for their customers, without those customers’ consent, in order to meet aggressive sales goals. [Read more…]

Bruce Leppla to Speak at the Investment Company Institute 2016 General Meeting

Bruce Leppla to Speak at the Investment Company Institute 2016 General Meeting

Lieff Cabraser attorney Bruce W. Leppla will be speaking at the Investment Company Institute’s May 19, 2016 General Meeting on “Non-Traditional Approaches to Antitrust and Securities Litigation.” Mr. Leppla and his partners represent institutional investors in investment loss recovery in circumstances where such losses are due to fraud or serious corporate misconduct. He will discuss the Credit Default Swap and Foreign Exchange (FX) antitrust litigation as well as creative legal approaches that have been used to resolve securities opt-out litigation matters. As one Lieff Cabraser client said, “the days of leaving money on the table are over.” [Read more…]