Wells Fargo Workers Get Class Status in Stock Plan Dividend Suit

Wells Fargo & Co. workers who say the employee stock in their retirement plan was mishandled won a court order certifying their case as a 300,000-person class action.

The class includes all participants in Wells Fargo’s 401(k) plan between September 2016 and December 2022 who held the bank’s stock in their accounts. Wells Fargo and defendant GreatBanc Trust Co., which served as a fiduciary for the stock fund, didn’t oppose the participants’ request for class status, Judge Laura M. Provinzino said in a Wednesday order for the US District Court for the District of Minnesota.

The banking giant mishandled hundreds ...