Settlement Structure: Claims Made
Active: Closed
Closed Settlement Statement:
According to court documents, the claim submission deadline has passed. Please contact the claims administrator if you have any questions.
Case Summary:Wells Fargo & Company, Wells Fargo Bank, NA and their Employee Benefit Review Committee are paying more than $32 million to resolve a class action about its retirement plan under the Employee Retirement Income Security Act of 1974 (ERISA), alleging the defendants breached their fiduciary duties and engaged in prohibited transactions in connection with the Wells Fargo & Company 401(k) Plan. The complaint alleged that those responsible for choosing and monitoring certain of the retirement plan’s investment options (the Challenged Funds) should not have offered or retained these options in the plan.
Docket Number:0:20-cv-02016
Company: Wells Fargo
Filing Deadline: July 21, 2022
Class Period: March 13, 2014
Objection Deadline: July 21, 2022
Final Approval Hearing: August 10, 2022
Proof of Purchase:You do not need to provide proof. If you are a former plan member and you wish to have your share paid as a rollover into another qualified retirement plan, you must submit a Former Participant Roller Form.
Eligibility:You may be eligible if you were a participant in the Wells Fargo & Company 401(k) Plan at any time between March 13, 2014 and the date the settlement becomes final.
Typical Settlement Amount:You will receive your portion of the net settlement fund according to a Plan of Allocation. Payments will depend on your investment in the Challenged Funds, among other things. Amounts due to Former Participants that are less than $5 will not be distributed.
Total Settlement Amount: $32,500,000
Class Representative Proposed Incentive Fee:Unknown
Law Firms:
Cohen Milstein Sellers & Toll
Keller Rohrback
Zimmerman Reed
Claim Form: Wells Fargo Challenged Funds in Retirement Plan Settlement Former Participant Rollover Form
Case Name: Becker, et al. v. Wells Fargo & Company, et al.
Settlement Website: Wells Fargo Challenged Funds in Retirement Plan Settlement Website
Claims Administrator:
Analytics Consulting, LLC
Wells Fargo ERISA Settlement
P.O. Box 2009
Chanhassen, MN 55317-2009
info@wellsfargoerisasettlement.com
844-485-2675