In Re Wells Fargo & Company Securities Litigation
Adam Perry has filed a lawsuit against Wells Fargo & Company, Charles W. Scharf, Timothy J. Sloan, and John R. Shrewsberry in the United States District Court, New York Southern. Perry alleges that the defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. The defendants have agreed to waive service of the summons and complaint under Federal Rule of Civil Procedure 4(d). The parties have also agreed to defer the deadline for the defendants to respond to the complaint until after the court has appointed a lead plaintiff and approved lead counsel. The initial pretrial conference and associated deadlines will be postponed until after the motion to dismiss is decided and the mandatory PSLRA stay of discovery is lifted.
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