NEW ORLEANS, June 08, 2020 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have untilAugust 3, 2020 to file lead plaintiff applications in a securities class action lawsuit against Wells Fargo & Company (NYSE: WFC), if they purchased the Company’s shares between April 5, 2020, and May 5, 2020, inclusive (the “Class Period”). This action is pending in the United States District Court for the Northern District of California.
What You May Do
If you purchased shares of Wells Fargo and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (email@example.com), or visit https://www.ksfcounsel.com/cases/nyse-wfc/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by August 3, 2020.
About the Lawsuit
Wells Fargo and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On April 5, 2020, the Company proclaimed that it had received significant interest in a program under the Coronavirus Aid, Relief, and Economic Security Act, the Paycheck Protection Program (“PPP”), and intended to distribute a total of $10 billion to small business customers through it. Then, on May 5, 2020, the Company disclosed that it had been sued in multiple lawsuits relating to its involvement with the PPP and had also “received formal and informal inquiries from federal and state governmental agencies regarding its offering of PPP loans.”
On this news, the price of Wells Fargo’s shares plummeted.
The case is Ma v. Wells Fargo & Company, et al, No. 20-cv-03697.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
1100 Poydras St., Suite 3200
New Orleans, LA 70163
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