{"id":381959,"date":"2020-11-16T10:17:20","date_gmt":"2020-11-16T15:17:20","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=381959"},"modified":"2020-11-16T10:17:20","modified_gmt":"2020-11-16T15:17:20","slug":"rosen-a-top-ranked-law-firm-announces-filing-of-securities-class-action-lawsuit-against-wells-fargo-company-wfc","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/rosen-a-top-ranked-law-firm-announces-filing-of-securities-class-action-lawsuit-against-wells-fargo-company-wfc\/","title":{"rendered":"ROSEN, A TOP RANKED LAW FIRM, Announces Filing of Securities Class Action Lawsuit Against Wells Fargo &amp; Company \u2013 WFC"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>ROSEN, A TOP RANKED LAW FIRM, Announces Filing of Securities Class Action Lawsuit Against Wells Fargo &amp; Company \u2013 WFC<\/b><\/p>\n<p>NEW YORK&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nRosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of Wells Fargo &amp; Company (NYSE: WFC) between October 13, 2017 and October 13, 2020, inclusive (the \u201cClass Period\u201d). The lawsuit seeks to recover damages for Wells Fargo investors under the federal securities laws.\n<\/p>\n<p>\nTo join the Wells Fargo class action, go to <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.rosenlegal.com%2Fcases-register-1985.html&amp;esheet=52328577&amp;newsitemid=20201116005796&amp;lan=en-US&amp;anchor=http%3A%2F%2Fwww.rosenlegal.com%2Fcases-register-1985.html&amp;index=1&amp;md5=9453fd3f2e7cad94ec4c8b9948a22a57\">http:\/\/www.rosenlegal.com\/cases-register-1985.html<\/a> or call Phillip Kim, Esq. toll-free at 866-767-3653 or email <a rel=\"nofollow\" href=\"mailto:pkim@rosenlegal.com\">pkim@rosenlegal.com<\/a> or <a rel=\"nofollow\" href=\"mailto:cases@rosenlegal.com\">cases@rosenlegal.com<\/a> for information on the class action.\n<\/p>\n<p>\nAccording to the lawsuit, defendants throughout the Class Period made false and\/or misleading statements and\/or failed to disclose that: (1) Wells Fargo had systematically failed to follow appropriate underwriting standards and due diligence guidelines in issuing billions of dollars\u2019 worth of commercial loans, including by inflating the net income and future expected cash flows of its commercial clients to justify issuing excessive loan amounts; (2) a materially higher proportion of Wells Fargo\u2019s commercial loan customers were of poor credit quality and\/or at a substantially higher risk of default than disclosed to investors; (3) Wells Fargo had failed to timely write down commercial loans, collateralized loan obligations (\u201cCLOs\u201d) and commercial mortgage backed securities (\u201cCMBS\u201d) on its books that had suffered impairments; (4) Wells Fargo had materially understated the reserves needed for expected credit losses in its commercial portfolios; (5) Wells Fargo had systematically misrepresented the credit quality and likelihood of default of the loans it packaged and securitized into CLOs and CMBS, including by artificially inflating the net income and expected cash flows of its commercial clients in loan and securitization documentation; (6) the CLO and CMBS-related loans issued and investment securities held by Wells Fargo were of lower credit quality and worth far less than represented to investors; (7) as a result of the foregoing, Wells Fargo\u2019s Class Period statements regarding the credit quality of its commercial loans, its underwriting and due diligence practices, and the value of its CLO and CMBS books were materially false and misleading and (8) as a result of the foregoing, Wells Fargo was exposed to severe undisclosed risks of financial, reputational and legal harm, in particular in the event of significant and sustained stress in the commercial credit markets. When the true details entered the market, the lawsuit claims that investors suffered damages.\n<\/p>\n<p>\nA class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court <b>no later than December 29, 2020<\/b>. 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 <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.rosenlegal.com%2Fcases-register-1985.html&amp;esheet=52328577&amp;newsitemid=20201116005796&amp;lan=en-US&amp;anchor=http%3A%2F%2Fwww.rosenlegal.com%2Fcases-register-1985.html&amp;index=2&amp;md5=4412f953826e940e694d4ab0a8655129\">http:\/\/www.rosenlegal.com\/cases-register-1985.html<\/a> or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at <a rel=\"nofollow\" href=\"mailto:pkim@rosenlegal.com\">pkim@rosenlegal.com<\/a> or <a rel=\"nofollow\" href=\"mailto:cases@rosenlegal.com\">cases@rosenlegal.com<\/a>.\n<\/p>\n<p>\nNO 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 RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. AN INVESTOR\u2019S ABILITY TO SHARE IN ANY POTENTIAL FUTURE RECOVERY IS NOT DEPENDENT UPON SERVING AS LEAD PLAINTIFF.\n<\/p>\n<p>\nFollow us for updates on LinkedIn: <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Fthe-rosen-law-firm&amp;esheet=52328577&amp;newsitemid=20201116005796&amp;lan=en-US&amp;anchor=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Fthe-rosen-law-firm&amp;index=3&amp;md5=cc03bd95e55eadeea878dfab4702ee75\">https:\/\/www.linkedin.com\/company\/the-rosen-law-firm<\/a>, on Twitter: <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Ftwitter.com%2Frosen_firm&amp;esheet=52328577&amp;newsitemid=20201116005796&amp;lan=en-US&amp;anchor=https%3A%2F%2Ftwitter.com%2Frosen_firm&amp;index=4&amp;md5=50fea62596a4a7284f446840a32b3586\">https:\/\/twitter.com\/rosen_firm<\/a> or on Facebook: <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.facebook.com%2Frosenlawfirm%2F&amp;esheet=52328577&amp;newsitemid=20201116005796&amp;lan=en-US&amp;anchor=https%3A%2F%2Fwww.facebook.com%2Frosenlawfirm%2F&amp;index=5&amp;md5=ae3b53d426f34f10d5ae18794077518e\">https:\/\/www.facebook.com\/rosenlawfirm\/<\/a>.\n<\/p>\n<p>\nRosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm\u2019s attorneys are ranked and recognized by numerous independent and respected sources. Rosen Law Firm has secured hundreds of millions of dollars for investors. Attorney Advertising. Prior results do not guarantee a similar outcome.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20201116005796r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20201116005796\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20201116005796\/en\/<\/a><\/span><\/p>\n<p>\nLaurence Rosen, Esq.<br \/>\n<br \/>Phillip Kim, Esq.<br \/>\n<br \/>The Rosen Law Firm, P.A.<br \/>\n<br \/>275 Madison Avenue, 40th Floor<br \/>\n<br \/>New York, NY 10016<br \/>\n<br \/>Tel: (212) 686-1060<br \/>\n<br \/>Toll Free: (866) 767-3653<br \/>\n<br \/>Fax: (212) 202-3827<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:lrosen@rosenlegal.com\">lrosen@rosenlegal.com<br \/>\n<\/a><br \/><a rel=\"nofollow\" href=\"mailto:pkim@rosenlegal.com\">pkim@rosenlegal.com<br \/>\n<\/a><br \/><a rel=\"nofollow\" href=\"mailto:cases@rosenlegal.com\">cases@rosenlegal.com<br \/>\n<\/a><br \/><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.rosenlegal.com&amp;esheet=52328577&amp;newsitemid=20201116005796&amp;lan=en-US&amp;anchor=www.rosenlegal.com&amp;index=6&amp;md5=ea6a61aeaf90d1ff67d4e6628ea6c1a2\">www.rosenlegal.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> United States North America New York<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Legal Professional Services<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\" \/>\n","protected":false},"excerpt":{"rendered":"<p>ROSEN, A TOP RANKED LAW FIRM, Announces Filing of Securities Class Action Lawsuit Against Wells Fargo &amp; Company \u2013 WFC NEW YORK&#8211;(BUSINESS WIRE)&#8211; Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of Wells Fargo &amp; Company (NYSE: WFC) between October 13, 2017 and October 13, 2020, inclusive (the \u201cClass Period\u201d). The lawsuit seeks to recover damages for Wells Fargo investors under the federal securities laws. To join the Wells Fargo class action, go to http:\/\/www.rosenlegal.com\/cases-register-1985.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. According to the lawsuit, defendants throughout the Class Period made &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/rosen-a-top-ranked-law-firm-announces-filing-of-securities-class-action-lawsuit-against-wells-fargo-company-wfc\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;ROSEN, A TOP RANKED LAW FIRM, Announces Filing of Securities Class Action Lawsuit Against Wells Fargo &amp; Company \u2013 WFC&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-381959","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>ROSEN, A TOP RANKED LAW FIRM, Announces Filing of Securities Class Action Lawsuit Against Wells Fargo &amp; Company \u2013 WFC - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/rosen-a-top-ranked-law-firm-announces-filing-of-securities-class-action-lawsuit-against-wells-fargo-company-wfc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ROSEN, A TOP RANKED LAW FIRM, Announces Filing of Securities Class Action Lawsuit Against Wells Fargo &amp; Company \u2013 WFC - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"ROSEN, A TOP RANKED LAW FIRM, Announces Filing of Securities Class Action Lawsuit Against Wells Fargo &amp; Company \u2013 WFC NEW YORK&#8211;(BUSINESS WIRE)&#8211; Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of Wells Fargo &amp; Company (NYSE: WFC) between October 13, 2017 and October 13, 2020, inclusive (the \u201cClass Period\u201d). The lawsuit seeks to recover damages for Wells Fargo investors under the federal securities laws. To join the Wells Fargo class action, go to http:\/\/www.rosenlegal.com\/cases-register-1985.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. 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The lawsuit seeks to recover damages for Wells Fargo investors under the federal securities laws. To join the Wells Fargo class action, go to http:\/\/www.rosenlegal.com\/cases-register-1985.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. 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