Wells Fargo 401(k) Plan Participant Files Class Action Under ERISA

(October 17, 2016, 10:44 AM EDT) -- MINNEAPOLIS — A former Wells Fargo & Co. employee and participant in its 401(k) plan on Oct. 14 filed a class action complaint under the Employee Retirement Income Security Act against the company, former and current executives and investment committee members, alleging that they breached their fiduciary duty by, among other things, retaining common stock of Wells Fargo as an investment option in the plan when a reasonable fiduciary using the “care, skill prudence, and diligence . . . that a prudent man acting in a...
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