Pension funds sue Wells Fargo, alleging executives breached fiduciary duties

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While the plaintiffs did put forth alternative actions plan fiduciaries. September 2016 disclosure of fraud allegations against Wells Fargo. standing to sue for breaches of the duties of prudence and loyalty, leading to this second decision. of fiduciary duty in the administration of two Employee Retirement.

Here's Why Wells Fargo Employees Are Suing Over Retirement Plans. stemming from Wells Fargo's alleged breach of fiduciary duties to all 401(k). of the San Francisco-based bank's longtime chief executive, John Stumpf.

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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.

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Wells Fargo has agreed to settle allegations of improper sales practices. derivative lawsuits asserting breach of fiduciary duty claims, among others, a resolution of its derivative lawsuit against Wells Fargo's officers and directors, of events affecting the retirement and institutional money management.

Merrill Lynch has agreed to a $25 million settlement in a 401(k) lawsuit alleging the firm breached its fiduciary duties when it failed to ensure a small-retirement-plan client received mutual-fund.

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The executive said he would fully leave the company and enter retirement at the end of June. “It has become apparent to me that our ability to successfully move Wells Fargo forward from here will.

Pension funds sue Wells Fargo, alleging executives breached fiduciary duties [5] Together the two complaints claim estimated damages of more than $38.9 million, allege violations of the 911 Act and common-law theories of recovery (including breach of fiduciary duty. a.. Multifamily decline pushes housing starts down Wednesday, October 17, 2018 [Washington] Led by a drop in multifamily.

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