NEW YORK -- (Business Wire)
Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Wells Fargo & Company (NYSE: WFC) resulting from allegations that Wells Fargo may have issued materially misleading business information to the investing public.
On April 19, 2020, it was reported that Wells Fargo may have unfairly allocated government-backed loans under the Paycheck Protection Program (“PPP”). On this news, Wells Fargo stock price fell $1.54 per share over the next two trading days, or over 5%, to close at $26.84 per share on April 21, 2020.
On May 5, 2020, in an SEC filing, Wells Fargo disclosed that it had “received formal and informal inquiries from federal and state governmental agencies regarding its offering of PPP loans.” On this news, Wells Fargo’s stock price fell $1.74 per share over the next two trading days, or over 6%, to close at $25.61 per share on May 6, 2020.
Rosen Law Firm is preparing a securities lawsuit on behalf of Wells Fargo shareholders. If you purchased securities of Wells Fargo please visit the firm’s website at http://www.rosenlegal.com/cases-register-1861.html to join the securities action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at email@example.com or firstname.lastname@example.org.
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Rosen 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 secured hundreds of millions of dollars for investors.
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Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
Source: Rosen Law Firm
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