Wells Fargo has agreed to pay $85 million to settle a securities class action, and investors who bought or acquired Wells Fargo common stock between February 24, 2021 and June 9, 2022 may be eligible for a cash payment—but you must submit a claim by April 14, 2026.
Here’s what you need to know.
Why This Lawsuit Exists?
This is a federal securities class action alleging that Wells Fargo and certain executives made false or misleading statements about the company’s diversity hiring initiative, known as the Diverse Search Requirement.
Plaintiffs allege Wells Fargo failed to disclose that the program was being administered in a way that led to widespread “fake” or sham interviews of diverse candidates. According to the lawsuit, this information became public through a New York Times report on June 9, 2022, causing investor losses.
Wells Fargo and the individual defendants deny all allegations and deny any liability but agreed to settle to avoid further litigation.
Who Qualifies for the Settlement?
You may be a Class Member if all of the following are true:
You purchased or otherwise acquired Wells Fargo & Co. common stock
The purchase or acquisition occurred between February 24, 2021 and June 9, 2022, inclusive
You were damaged as a result of those transactions
Both individuals and entities can qualify.
Authorized representatives may file claims on behalf of beneficial owners.
How Much Money You Can Get?
Total settlement fund: $85,000,000
Payments will be distributed pro rata based on:
Number of valid claims
Shares purchased or acquired
Timing of purchases and sales
Total recognized losses of all claimants
Estimated average distribution: approximately $0.056 per damaged share (before deductions).
Important payout rules:
Claims with payments under $10 will not be paid
Actual payments may be higher or lower depending on total claims
Payments are issued after final approval and any appeals
Your Options at a Glance
| Option | What It Means | Deadline |
|---|---|---|
| Submit a Claim | Only way to receive a payment | April 14, 2026 |
| Opt Back In | Rejoin the class if you previously opted out | April 14, 2026 |
| Object | Tell the Court you disagree with the settlement | April 14, 2026 |
| Attend Hearing | Ask to speak in court (optional) | May 5, 2026 |
| Do Nothing | No payment; give up the right to sue | — |
How to File a Claim?
To be eligible for payment, you must submit a Claim Form.
You will need to provide:
The last four digits of your Social Security or taxpayer ID number
Details of your Wells Fargo stock transactions, including:
Trade dates
Number of shares
Purchase, sale, or acquisition prices
Supporting documentation, such as:
Broker confirmation slips
Account statements
Other acceptable brokerage records
Claim Deadline: April 14, 2026
Claims Administrator:
SEB Investment Mgm’t AB v. Wells Fargo & Co.
c/o A.B. Data Ltd.
P.O. Box 173025
Milwaukee, WI 53217
Call: 866-905-8128
If you qualify, filing a claim is the only way to receive money from the settlement.
