Lawsuit: ‘Criminal Epidemic’ Put Wells Fargo Employee’s Retirement Plans at Risk

An attorney representing a Wells Fargo employee told 5 EYEWITNESS NEWS the bank’s “rampant scandals” may’ve cost his client and countless others a stable retirement. That lawyer filed a federal class-action lawsuit against Wells Fargo late last week on behalf of client Francesca Allen.

The lawsuit, filed in Minnesota, comes weeks after regulators found that Wells Fargo employees had secretly created millions of unauthorized accounts, without their customers knowing it, since 2011. It alleges that the “criminal epidemic was created by Wells Fargo’s senior executives,” and in doing so, attorney Adam Levitt argues that bank executives put their employee’s retirement plans at risk because their plans are largely tied to Wells Fargo stock.

“For Wells Fargo and its executives to knowingly hurt their employees the way that they have in this respect and others is simply reprehensible,” said Levitt, the head of Consumer Protection and Product Liability Litigation at Grant & Eisenhofer P.A.

Read on.



2 responses to “Lawsuit: ‘Criminal Epidemic’ Put Wells Fargo Employee’s Retirement Plans at Risk

  1. Reblogged this on Deadly Clear and commented:
    Oh pleeeze, WF – did you really think your retirement was ever really there? Scandal or no scandal – the money doesn’t exist. Welcome to reality.

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