(June 8, 2020, 1:45 PM EDT) -- SAN FRANCISCO — Wells Fargo & Co., its CEO and its chief financial officer (CFO) violated federal securities laws by misrepresenting to investors that the financial institution was in compliance with provisions of the Coronavirus Aid, Relief and Economic Security Act’s (CARES Act) paycheck protection program (PPP), when, in fact, it had engaged in a massive misallocation scheme, a shareholder argues in a June 4 complaint filed in California federal court (Guofeng Ma v. Wells Fargo & Co., et al., No. 20-3697, N.D. Calif.)....