NEW YORK, Sept. 30, 2016 /PRNewswire/ -- Rosen Law
Firm, reminds purchasers of Wells Fargo & Company securities
(NYSE: WFC) from February 26, 2014
through September 15, 2016, both
dates inclusive (the "Class Period") of the important November 25, 2016 lead plaintiff deadline in the
class action. The lawsuit seeks to recover damages for Wells Fargo
investors under the federal securities laws.
To join the Wells Fargo class action, go to the firm's website
at http://rosenlegal.com/cases-957.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll free at 866-767-3653 or
email pkim@rosenlegal.com or kchan@rosenlegal.com for more
information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A
CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU
RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO
NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, throughout the Class Period defendants
issued false and misleading statements to investors that Wells
Fargo's cross-selling efforts to retail customers were the product
of a carefully designed system that resulted in Wells Fargo
illegally, through forgery and other electronic means, opening
millions of deposit and credit card accounts for customers without
their knowledge in an effort to generate fee income for Wells Fargo
and compensation rewards for Wells Fargo employees, including
defendants. Wells Fargo also failed to disclose that an
ongoing internal investigation had determined by the beginning of
the Class Period that employees in the Community Banking segment
had engaged in a wide ranging scheme to inflate Wells Fargo's
financial performance figures by opening millions of unauthorized
deposit and credit card accounts, ultimately resulting in more than
5,000 employee terminations. As a result, defendants' statements
about Wells Fargo's business, operations, and prospects were false
and misleading and/or lacked a reasonable basis. When the true
details entered the market, the lawsuit claims that investors
suffered damages.
A class action lawsuit has already been filed. If you wish to
serve as lead plaintiff, you must move the Court no later than
November 25, 2016. A lead plaintiff
is a representative party acting on behalf of other class members
in directing the litigation. If you wish to join the litigation, go
to the firm's website at http://rosenlegal.com/cases-957.html for
more information. You may also contact Phillip Kim, Esq. or Kevin Chan, Esq. of Rosen Law Firm toll free at
866-767-3653 or via email at pkim@rosenlegal.com or
kchan@rosenlegal.com. Attorney Advertising. Prior results do
not guarantee a similar outcome.
Follow us for updates on LinkedIn:
https://www.linkedin.com/company/the-rosen-law-firm or on Twitter:
https://twitter.com/rosen_firm.
Rosen Law Firm represents investors throughout the globe,
concentrating its practice in securities class actions and
shareholder derivative litigation.
Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
Kevin Chan, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 34th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
kchan@rosenlegal.com
www.rosenlegal.com
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SOURCE Rosen Law Firm, P.A.