wells fargoWells Fargo Advisors to pony up $35.5M in race discrimination, class action settlement


investmentnews.com article.


Wells Fargo Advisors has reached a $35.5 million settlement with a group of African-American financial advisers who claimed the firm discriminated against them due to their race.

The group of six brokers, with lead plaintiff Lance Slaughter, are joined by 325 confirmed African American brokers or trainees at the firm, said Linda Friedman, the attorney for the class plaintiffs. There could be another potential 200 class members, depending on how those advisers and trainees identify their race, she said.

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