Judge Dismisses Shareholder Suit Against Wells Fargo Directors And Officers

Judge Dismisses Shareholder Suit Against Wells Fargo Directors And Officers

SAN FRANCISCO - A federal judge in California on May 9 granted the dismissal of a shareholder derivative lawsuit against directors and officers of Wells Fargo & Co., finding that the plaintiff failed to allege sufficient particularized facts to excuse presuit demand on the company's board of directors (Richard Gulbrandsen v. John G. Stumpf, et al., No. 12-cv-05968, N.D. Calif.; 2013 U.S. Dist. LEXIS 66466).

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