San Francisco County Superior Court
CPM was Lead Counsel in shareholder derivative action against Wells Fargo officers and directors who presided over the bank’s fictitious sales programs defrauding thousands of customers who unwittingly paid fees for accounts they never opened. The program artificially boosted the bank’s financial condition, while certain management received lucrative bonuses and insider trading profits. As a result of the action, Wells Fargo agreed to reform its sales practices and certain insiders returned millions in equity awards.
