9th Circ. Upholds $142M Wells Fargo Fraud Deal
Law360 (July 20, 2020, 9:58 PM EDT) — The Ninth Circuit on Monday upheld a $142 million settlement between Wells Fargo and a class of customers who were charged fees related to unauthorized accounts opened in their names, ruling the lower court did not err in finding the amount reasonable and that the class met all predominance requirements.
In two opinions on the case, one published and one unpublished, the panel upheld all of the lower court’s rulings on the settlement that a group of class members objected to, including the amount of damages, the attorney fees awarded and the certification order.
“This case involved novel legal issues, especially regarding the…