Supplemental Briefing Ordered On Shareholder Derivative Suit Settlement

Mealey's (April 3, 2019, 6:00 PM EDT) -- SAN FRANCISCO — A federal judge in California overseeing a shareholder derivative action brought on behalf of Wells Fargo & Co. ordered co-lead plaintiffs to file supplemental briefing on March 20 to support their claim that $80 million in executive compensation clawbacks and corporate governance reforms should be attributed to the co-lead plaintiffs’ prosecution of the action to increase the total value of a proposed settlement agreement to $320 million (In re Wells Fargo & Co. Shareholder Derivative Litigation, No. 16-5541, N.D. Calif.)....