Wells Fargo settled a securities fraud lawsuit for $480 million

Wells Fargo reported that it had settled a securities fraud lawsuit for 480 million dollars, the finversia.ru project wrote with reference to Dow Jones. Settlement for this amount, accrued as of March 31, has not yet been approved by the District Court of the Northern Federal District of California, where the lawsuit is being considered. In its message, the bank notes that it “denies the accusations made in this case, and concluded a principled agreement to avoid the costs and inconveniences associated with further legal proceedings”.