Wells Fargo won the dismissal of a lawsuit accusing the fourth-largest U.S. bank of defrauding shareholders by touting its commitment to hiring diversity while its managers were conducting sham interviews of non-white and female job candidates.
won the dismissal of a lawsuit accusing the fourth-largest U.S. bank of defrauding shareholders by touting its commitment to hiring diversity while its managers were conducting sham interviews of non-white and female job candidates.
Thompson also found no proof that Chief Executive Charlie Scharf and two senior diversity executives should have known about the sham interviews, or that Wells Fargo's years of costly scandals including from the creation of "fake" customer accounts should have put them on alert. Lawyers for the plaintiffs did not immediately respond on Monday to requests for comment. Wells Fargo did not immediately respond to similar requests.through nine public statements discussing its "diverse slates" guidelines.
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