CPM Files Lawsuit Against Wells Fargo Officers and Directors Relating to Auto and Home Loan Practices

On September 1, 2017, CPM, along with co-counsel, Bottini & Bottini, filed a shareholder derivative action against certain Wells Fargo officers and directors relating to recent disclosures concerning the Bank’s home and auto loan practices and related insurance products.   The shareholder plaintiff alleges that Wells Fargo’s senior management breached their fiduciary duties to the company and its shareholders by allowing the unlawful practices to continue at the Bank, and that certain executives violated state insider trading statutes.