NOTICE TO CURRENT AND FORMER WELLS FARGO EMPLOYEES AND CUSTOMERS: Klayman & Tokses, P.A. Continues To Investigate Wells Fargo Cross Selling Incentive Programs Following Regulatory Probes

The Securities Arbitration Law Firm of Klayman & Toskes, P.A. ("K&T"),, continues to investigate Wells Fargo (NYSE:WFC) and its broker dealer, Wells Fargo Advisors, for potential Financial Industry Regulatory Authority (FINRA) sales practice violations from its "cross selling" incentive programs. Yesterday, Wells Fargo reported in its  SEC 10-Q filing, "the United States Department of Justice and the United States Securities and Exchange Commission, and state attorneys general and prosecutors' offices, as well as Congressional committees, have undertaken formal or informal inquiries, investigations or examinations arising out of certain sales practices of the Company that were the subject of settlements" with regulators for $185 million on September 8, 2016.

The federal probes conducted by the SEC and other regulators is followed by Wells Fargo's reported increase in reserves for potential litigation losses to $1.7 billion. According to K&T founder, Lawrence L. Klayman, Esq. "Wells Fargo's legal problems are focused on sales practices from cross selling incentive programs that violated financial industry rules and regulations." Mr. Klayman emphasizes, "Our firm is investigating potential sales practice violations which placed current and former employees, as well as customers of Wells Fargo in harm's way. Wells Fargo failed to meet its obligations to promote an ethical workplace which placed the Company's pursuit of profits before their customers' best interests. Wells Fargo failed to supervise the 'cross selling' activities which violated financial industry rules and regulations."

The sole purpose of this release is in furtherance of our investigation into Wells Fargo's sales practices related to "cross-selling" efforts which may include;  unsuitable recommendationsbreach of fiduciary dutymisrepresentations and omissions of material facts and a  failure to supervise. Current and former Wells Fargo employees and customers who have information about the sales practices of Wells Fargo and Wells Fargo Advisors are encouraged to contact Lawrence L. Klayman, Esq. or Raymond Gentile, Esq. of Klayman & Toskes, P.A. at (888) 997-9956, or visit our website at

SEC Whistleblowers

Individuals, including current or former employees with non-public information regarding Wells Fargo and Wells Fargo Advisors sales practices related to cross selling programs should consider the  SEC Whistleblower Program. Under the SEC Whistleblower program, whistleblowers who provide unique information that results in an SEC enforcement action with sanctions exceeding $1 million, and awards can range from 10 percent to 30 percent of the money collected in a case.

About Klayman & Toskes, P.A.

K&T is a leading national securities law firm which practices exclusively in the field of securities arbitration and litigation, on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm represents high net-worth, ultra-high-net-worth, and institutional investors, such as non-profit organizations, unions, public and multi-employer pension funds. K&T has office locations in California, Florida, New York and Puerto Rico.

Copyright Business Wire 2010