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Law Offices of Howard G. Smith reminds investors of the upcoming August 3<\/span>, 2020 <\/strong>deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased Wells Fargo & Company securities between April 5, 2020<\/span> and May 5, 2020<\/span>, <\/strong>inclusive (the “Class Period”).<\/p>\n Investors suffering losses on their Wells Fargo investments are encouraged to contact the Law Offices of Howard G. Smith<\/span> to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.<\/p>\n On April 19, 2020<\/span>, after at least one lawsuit was filed against the Company, reports surfaced that Wells Fargo may have unfairly distributed government-backed loans under the Paycheck Protection Program (“PPP”). <\/p>\n On this news the Company’s share price fell $1.54<\/span>, or over 5%, over two consecutive trading sessions to close at $26.84<\/span> per share on April 21, 2020<\/span>, thereby injuring investors.<\/p>\n Finally, on May 5, 2020<\/span>, the Company revealed that “it has . . . received formal and informal inquiries from federal and state governmental agencies regarding its offering of PPP loans.”<\/p>\n On this news, the Company’s share price fell $1.74<\/span>, or over 6%, over two consecutive trading sessions to close at $25.61<\/span> per share on May 6, 2020<\/span>, thereby injuring investors further.<\/p>\n The complaint alleges that throughout the Class Period, defendants made false and\/or misleading statements and\/or failed to disclose: (1) that Wells Fargo planned to, and did, improperly allocate government-backed loans under the PPP, and\/or had inadequate controls in place to prevent such misallocation; (2) that the foregoing foreseeably increased the Company’s litigation risk with respect to PPP allocation, as well as increased regulatory scrutiny and\/or potential enforcement actions; and (3) as a result, the Company’s public statements were materially false and misleading at all relevant times.<\/p>\n If you purchased or otherwise acquired Wells Fargo securities, you may move the Court no later than August 3, 2020<\/span>, <\/strong>to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire<\/span>, of Law Offices of Howard G. Smith<\/span>, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania<\/span> 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.<\/p>\n Tags:<\/b> toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"See Campaign: <\/strong>http:\/\/www.howardsmithlaw.com.<\/a>
Contact Information:<\/b>
toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com<\/p>\n
<\/a>, Wire<\/a>, Legal Newswire<\/a>, United States<\/a>, English<\/a><\/p>\n<\/div>\n
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Law Offices of Howard G. Smith reminds investors of the upcoming August 3, 2020 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased Wells Fargo & Company securities between April 5, 2020 and May 5, 2020, inclusive (the “Class Period”). Investors suffering losses on their Wells Fargo investments are encouraged to contact the … Continue reading Deadline Reminder: The Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Wells Fargo & Company (WFC)<\/span><\/a> Continue Reading