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Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until August 3, 2020 to file lead plaintiff applications in a securities class action lawsuit against Wells Fargo & Company (NYSE: WFC).
Wells Fargo and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On April 5, 2020, the Company proclaimed that it had received significant interest in a program under the Coronavirus Aid, Relief, and Economic Security Act, the Paycheck Protection Program (“PPP”), and intended to distribute a total of $10 billion to small business customers through it. Then, on May 5, 2020, the Company disclosed that it had been sued in multiple lawsuits relating to its involvement with the PPP and had also “received formal and informal inquiries from federal and state governmental agencies regarding its offering of PPP loans.”
On this news, the price of Wells Fargo’s shares plummeted.
If you purchased shares of Wells Fargo and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (firstname.lastname@example.org), or fill out the form on this page.
The case is Ma v. Wells Fargo & Company, et al, No. 20-cv-03697.
Click here to read the first filed complaint.