Wells Fargo: ERISA Does Not Require Disclosure Of Nonpublic Information

(November 26, 2018, 8:06 AM EST) -- ST. LOUIS — Wells Fargo & Co. and others accused of violating the Employee Retirement Income Securities Act by encouraging and causing employees to sign up customers for unauthorized and unwanted accounts and other banking products to generate inflated share price growth told the Eighth Circuit U.S. Court of Appeals Nov. 16 that a federal judge in Minnesota did not err in dismissing the class action lawsuit because the statute does not require the disclosure of nonpublic information to plan participants (Francesca Allen, et al. v. Wells Fargo & Co., et al., No. 18-2781, 8th Cir.)...