Judge Won’t Dismiss Stock Loss Claims Over ‘Sham’ Wells Fargo Interviews

(July 30, 2024, 2:21 PM EDT) -- OAKLAND, Calif. — A California federal judge on July 29 denied a motion by Wells Fargo & Co. and certain of its executives to dismiss a putative class complaint brought by a group of shareholders, holding that the shareholders adequately established that the company was aware of a widespread practice of using fake interviews to give the impression of complying with internal diversity hiring practices before news about the interviews led to a drop in stock value....