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Class Action Accuses Wells Fargo & Co. Of ‘Cross-Selling’ Scheme

Mealey's (October 11, 2016, 9:31 AM EDT) -- MINNEAPOLIS — A participant in and beneficiary of the Wells Fargo & Co.’s 401(k) Plan filed a putative class action lawsuit in Minnesota federal court Oct. 7, alleging violations of Sections 409 and 502 of the Employee Retirement Income Security Act for allegedly encouraging and causing employees to sign up customers for unauthorized and unwanted accounts and other banking products to generate inflated share price growth (Francesca Allen, et al. v. Wells Fargo & Co., et al., No. 16-3405, D. Minn.).

(Complaint available.  Document #54-161012-056C.)...
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