Today the plaintiffs who filed the first class action lawsuit against
Wells Fargo related to unauthorized accounts asked a federal court in
San Francisco to preliminarily approve a $142 million settlement with
the bank designed to compensate customers nationwide. Keller
Rohrback L.L.P., which represent the plaintiffs, filed the
settlement papers in the case captioned Jabbari, et. al. v. Wells
Fargo & Company and Wells Fargo Bank, N.A., Case No.
3:15-cv-02159-VC, in the United States District Court for the Northern
District of California.
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Keller Rohrback L.L.P., which represent the plaintiffs who filed the first class action lawsuit against Wells Fargo related to unauthorized accounts, asked a federal court in San Francisco to preliminarily approve a $142 million settlement with the bank designed to compensate customers nationwide. (Photo: Business Wire)
The filing shows that Wells Fargo agreed to increase the $110 million
settlement announced on March 28, 2017 by $32 million, and to extend the
Class Period back to May 1, 2002.
"Wells Fargo abused the trust of its customers, and the proposed $142
million settlement aims to reimburse Wells Fargo customers for the
damage caused by the bank's conduct," said Derek Loeser, a partner at
Keller Rohrback L.L.P. and attorney for the plaintiffs.
The settlement-if approved-compensates customers for fees charged on
unauthorized accounts, products, and services, compensates them for
damage to their credit resulting from Wells Fargo unauthorized accounts,
and provides additional compensation to all Class Members based on the
number of unauthorized accounts, products or services opened in their
"The settlement is the result of hard-fought negotiations and our
refusal to accept Wells Fargo's position that its victims had to
arbitrate their claims individually with the bank," Loeser said.
Some key points about the preliminary approval process for the
Plaintiffs are represented by:
P. MensherKeller Rohrback L.L.P.1201 Third Avenue, Suite
3200Seattle, WA 98101
J. PreuschKeller Rohrback L.L.P.801 Garden Street, Suite
301Santa Barbara, CA 93101
LewisKeller Rohrback L.L.P.300 Lakeside Drive, Suite 1000Oakland,
About Keller Rohrback
Keller Rohrback L.L.P. is a consumer-rights class-action law firm with
offices in 6 locations. Our Complex Litigation Group is proud to offer
its expertise to clients nationwide, and our trial lawyers have obtained
judgments and settlements on behalf of clients in excess of 18 billion
The firm's record of success includes settlements with numerous Fortune
500 companies accused of cheating their employees and customers.
Recently, managing partner Lynn
Sarko was appointed to the Plaintiffs' Steering Committee in the
"Clean Diesel" litigation. More about the law firm and its successes
can be found at www.krcomplexlit.com,
or connect with us on Facebook,
View source version on businesswire.com: http://www.businesswire.com/news/home/20170421005184/en/
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