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Browse: Home / 2020 / June / 05 / Wells Fargo Hit with First PPP-Related Securities Class Action | The D&O Diary

Wells Fargo Hit with First PPP-Related Securities Class Action | The D&O Diary

By Securities Docket on June 5, 2020, 8:59 am

In prior posts on this site (most recently here), I have suggested that D&O claims could arise in connection with the Paycheck Protection Program (PPP), a fiscal stimulus program Congress enacted as part of the Coronavirus Aid, Relief and Economic Security Act (CARES Act). In what is as far as I know the first PPP-related securities class action lawsuit, a plaintiff shareholder has filed a securities class action lawsuit against Wells Fargo & Company, alleging that the company made misrepresentations to investors in connection with the company’s participation in the PPP. A copy of the plaintiff’s June 4, 2020 complaint can be found here.

via Wells Fargo Hit with First PPP-Related Securities Class Action | The D&O Diary.

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Posted in Class Actions, Top | Tagged Paycheck Protection Program

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