Cybersecurity
Wells Fargo, BofA, JPMorgan, SAC, Facebook in Court News
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Wells Fargo & Co., the biggest U.S. home lender, said it reached a $590 million settlement in principle with plaintiffs who claimed in a lawsuit that Wachovia Corp. misled investors.
The accord, subject to court approval, is reflected in the bank’s financial statements and “will not have a material adverse effect on Wells Fargo’s consolidated financial position,” according to a regulatory filing Aug. 5 by the San Francisco-based company. Wells Fargo acquired Wachovia in 2008.