Rigrodsky & Long, P.A. announces that it has launched an investigation on behalf of the shareholders of Wells Fargo & Company (“Wells Fargo” or the “Company”)(NYSE: WFC) with respect to whether the Company and certain of its officers and/or directors have possibly violated the federal securities laws.
Wells Fargo is the United States’ biggest home lender, and the fourth-largest United States bank by assets. On February 28, 2012, the Company filed its annual report for the period ended December 31, 2011, in which it disclosed its receipt of a Wells Notice from the United States Securities and Exchange Commission (“SEC”), concerning its disclosures in mortgage-backed securities offering documents. A Wells Notice is a letter sent by the SEC when it is planning to bring an enforcement action, and provides the person or firm with an opportunity to provide information why such action should not be brought.
Wells Fargo also disclosed that “[g]overnment agencies continue investigations or examinations of other mortgage related practices of Wells Fargo. The investigations relate to two main topics, (1) whether Wells Fargo may have violated fair lending or other laws and regulations relating to mortgage origination practices; and (2) whether Wells Fargo properly disclosed in offering documents for its residential mortgage-backed securities the facts and risks associated with those securities.”
If you own Wells Fargo common stock, wish to discuss this investigation, or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Scott J. Farrell, Esquire of Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, NY at (888) 969-4242, by e-mail to firstname.lastname@example.org, or at: http://www.rigrodskylong.com/investigations/wells-fargo-company-wfcRigrodsky & Long, P.A. with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States. Attorney advertising. Prior results do not guarantee a similar outcome.
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