A shareholder class action lawsuit was filed
against Wells Fargo on Monday that alleged the firm misled investors
about its financial performance and the success of its sales practices.
The lawsuit, which was filed in the U.S.
District Court of Northern California, comes nearly a week after Wells
Fargo chief executive John Stumpf faced Senate lawmakers about his
oversight at the bank.
It also singled out Stumpf and Carrie Tolstedt, the now-retired
executive at the center of the scandal, for selling more than $31
million of their stock in Wells Fargo at "artificially inflated" prices.
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