", 404 South Wells St., Suite 600, Chicago, IL 60607 - United States. Pursuant to the Order, the Respondent paid a $500 million civil money penalty to the Commission. Wells Fargo Fair Fund to Provide $500 Million to Investors Wells Fargo reached an agreement with the Consumer Financial Protection Bureau to pay $2 billion to customers harmed by bank practices. Wells Fargo said in a statement Monday that it strongly disagrees with the DOLs allegations and believes it followed applicable laws in conducting the transactions. b. Or disturbing, maddening, or even comical, depending on your temperment. 35 0 obj <> endobj In the event of liquidation, holders of Wells Fargo DEP Shares will be entitled to receive, before any distribution is made to the holders of common stock or any other junior stock, but after any distribution to any other class or series of Wells Fargo preferred stock issued in exchange for preferred stock established by the Wachovia board of directors after September 1, 2001, an amount equal to $10.00 per Wells Fargo DEP Share. Each one one-thousandth of a Wells Fargo DEP Share will have a corresponding liquidation preference of $0.01, which is equivalent to the liquidation preference of the Wachovia DEP Shares. What is my cost basis for Wachovia stock that converted to Wells Fargo? SEC Fair Fund Settlements Add to Investor Recoveries - ISS Insights The Action alleged that Wells Fargo & Company ("Wells Fargo") and certain officers and directors of Wells Fargo violated the federal securities laws. The last transaction in 2018 was under prior leadership, and no ESOP transactions have taken place since then. The Wells Fargo DEP Shares are not currently listed on any securities exchange, but are traded on the over-the-counter Bulletin Board. 3-19704 (Feb. 21, 2020) Wells argo Fair Fund WELLS FARGO FAIR FUND CLAIM FORM l. GENERAL INSTRUCTIONS A. All rights reserved. Settlement Fund: $300,000,000. Box 2009 Chanhassen, MN 55317-2009. If you need more help, call CFPB at 1 (855) 411-2372. Matt Murray and their technical team ensured our data transmission was seamless and secure.
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