Pomerantz LLP filed a securities class action Tuesday in California Northern District Court against Wells Fargo and certain top executives over the company's 2020 launch of a diverse hiring policy intended to require 50% of interviewees to be from underrepresented groups. The complaint accuses Wells Fargo of conducting 'fake' interviews in order to meet its diverse search criteria, subjecting the company to the risk of governmental scrutiny and criminal charges. The suit partially arises from a New York Times article on the topic published last May. Counsel have not yet appeared for the defendants. The case is 3:22-cv-03811, Ardalan v. Wells Fargo & Company et al.
Banking & Financial Services
June 28, 2022, 3:31 PM