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On January 25, 2011, the U.S. District Court for the District of Columbia preliminarily approved a nationwide class action lawsuit on behalf of female financial advisors who are or were employed by Wells Fargo Advisors/Wachovia Securities (Carter et al. v. Wells Fargo Advisors, LLC et al., Civil Action No. 09-1752).
The Court held a fairness hearing on final approval of the Settlement on June 8, and on June 9, 2011 granted final approval to the settlement. Click here to see the final approval order.
The class action settlement includes a $32 million fund from which awards, fees and costs will be paid and requires the company to make significant changes to its internal policies.
The approved class includes female Financial Advisors employed in the United States by:
(a) Wachovia Securities, LLC, or its successor Wells Fargo Advisors, LLC, at any time between March 17, 2003 and January 25, 2011;
and/or
(b) Wells Fargo Investments, LLC at any time between December 31, 2008 and January 25, 2011.
If you wish to be eligible to receive money from the settlement you must submit a claim form by June 20, 2011 Click here to read the notice mailed to all class members that explains these revised deadlines.
Click here to read the Court's Order extending the deadlines in the case.
For a full description of class members' options and rights as well as list of important deadlines, please review the full Notice. Questions should be directed to Christopher Moody or Whitney Warner at Moody & Warner, P.C. at (505) 944-0033.
September 15, 2009. Moody & Warner joined class action law firms and filed a class action gender discrimination case against Wells Fargo Advisors, LLC, formerly known as Wachovia Securities, LLC, and Wells Fargo & Co. claiming that a class of female financial advisors suffered systemic discrimination since at least early 2003. The case was filed on behalf of a class consisting of all female financial advisors employed anywhere in the United States at any time from March 17, 2003 to the present.
The suit claims that women financial advisors at Wells Fargo Advisors, and previously at Wachovia Securities, were subjected to discrimination on the basis of their sex in various terms and conditions of their employment, including signing bonuses, assignment of accounts, participation in company-approved "partnerships," training, mentoring, and promotional opportunities, among other things. The filing of the lawsuit capped a multi-year investigation of the company conducted by Moody & Warner and their co-counsel. The case was filed in the U.S. District Court for the District of Columbia and has been assigned to Judge Colleen Kollar-Kotelly. If you now work or formerly worked for Wells Fargo Advisors, please contact us and tell us your story.
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