Published: March 01, 2007
Press Release
Wells Fargo Mutual Fund Investors Urged by Gutride Safier LLP to Come Forward to Protect Their Rights in Class Action Kickback Suit
In response to a tentative ruling
this week by a San Francisco federal judge, lawyers today urged all
investors in any Wells Fargo mutual fund (a.k.a. Wells Fargo Advantage
Fund)
to come forward immediately to protect their rights.
The suit concerns Wells Fargo's alleged practice of using investor assets
to pay kickbacks to brokers who recommended its mutual funds. A federal
securities lawsuit seeks to recover money for the investors.
Federal Judge William Alsup reiterated his approval of the lawsuit, which
has been pending against all Wells Fargo mutual funds since November 2005,
but tentatively limited the suit Monday to only six mutual funds owned by
the plaintiffs. If the ruling becomes final, investors in the other
approximately 96 Wells Fargo mutual funds might be excluded from the case.
To read the complete release at NewsBlaze,
Wells Fargo Mutual Fund Investors Urged by Gutride Safier LLP to Come Forward to Protect Their Rights in Class Action Kickback Suit,
Click here
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