Civil Litigation,
Corporate
Jul. 31, 2019
Shareholders object to $68M attorney fees in Wells Fargo settlement
Some Wells Fargo & Co. shareholders who won a $320 million settlement over the fraudulent creation of millions of fake accounts are urging a federal judge to deny a request for $68 million in attorney fees.
Some Wells Fargo & Co. shareholders who won a $320 million settlement over the fraudulent creation of millions of fake accounts are urging a federal judge to deny a request for $68 million in attorney fees.
The objectors are accusing law firms of exaggerating billing rates to justify the award as well as the impact of their efforts leading to executives returning some of their compensation and reforming company procedures.
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