{"id":6052,"date":"2016-10-18T14:33:15","date_gmt":"2016-10-18T19:33:15","guid":{"rendered":"https:\/\/www.institutionalinvestorsecuritiesblog.com\/?p=1142"},"modified":"2021-09-20T15:43:06","modified_gmt":"2021-09-20T20:43:06","slug":"wells-fargo-deutsche-bank-neuberger-berman-grapple-401k-lawsuits","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/wells-fargo-deutsche-bank-neuberger-berman-grapple-401k-lawsuits\/","title":{"rendered":"Wells Fargo, Deutsche Bank, and Neuberger Berman Grapple with 401K lawsuits"},"content":{"rendered":"<br \/>\n<blockquote>\n<div class=\"WordSection1\">\n<div class=\"\"><span class=\"\">A plaintiff who is a participant in Wells Fargo\u2019s 401(K) plan is suing the bank. The individual claims that the company\u2019s cross-selling scandal has caused its stock price to drop significantly and this has resulted in hundreds of millions of dollars in damages to the retirement plan.<\/span><\/div>\n<div class=\"\"><span class=\"\">It was just last month that regulators imposed a $185M fine on Wells Fargo for setting up 2.1 million credit card accounts and unauthorized deposits for banking customers so as to satisfy sales quotas. Some employees allegedly set up debit cards for customers without their knowledge, even assigning them PIN numbers. <\/span><\/div>\n<div class=\"\"><\/div>\n<div class=\"\"><span class=\"\">Although Wells Fargo is settling with the Los Angeles City Attorney, the\u00a0<\/span><span class=\"\">U.S. Office of the Comptroller of the Currency, and the U.S. Consumer Financial Protection Bureau<\/span><span class=\"\">, it\u00a0is not denying or admitting to the allegations.\u00a0<\/span><\/div>\n<\/div>\n<\/blockquote>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/wells-fargo-deutsche-bank-neuberger-berman-grapple-401k-lawsuits\/\"  title=\"Continue Reading Wells Fargo, Deutsche Bank, and Neuberger Berman Grapple with 401K lawsuits\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>A plaintiff who is a participant in Wells Fargo\u2019s 401(K) plan is suing the bank. The individual claims that the company\u2019s cross-selling scandal has caused its stock price to drop significantly and this has resulted in hundreds of millions of dollars in damages to the retirement plan. It was just last month that regulators imposed [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3818,3752,3836],"tags":[2547,3692],"class_list":["post-6052","post","type-post","status-publish","format-standard","hentry","category-deutsche-bank","category-financial-firms","category-wells-fargo","tag-401k-lawsuits","tag-neuberger-berman"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Wells Fargo, Deutsche Bank, and Neuberger Berman Grapple with 401K lawsuits &#8212; Investor Lawyers Blog &#8212; October 18, 2016<\/title>\n<meta name=\"description\" content=\"A plaintiff who is a participant in Wells Fargo\u2019s 401(K) plan is suing the bank. The individual claims that the company\u2019s cross-selling scandal has caused &#8212; October 18, 2016\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/wells-fargo-deutsche-bank-neuberger-berman-grapple-401k-lawsuits\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Wells Fargo, Deutsche Bank, and Neuberger Berman Grapple with 401K lawsuits &#8212; Investor Lawyers Blog &#8212; October 18, 2016\" \/>\n<meta name=\"twitter:description\" content=\"A plaintiff who is a participant in Wells Fargo\u2019s 401(K) plan is suing the bank. The individual claims that the company\u2019s cross-selling scandal has caused &#8212; October 18, 2016\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Wells Fargo, Deutsche Bank, and Neuberger Berman Grapple with 401K lawsuits &#8212; Investor Lawyers Blog &#8212; October 18, 2016","description":"A plaintiff who is a participant in Wells Fargo\u2019s 401(K) plan is suing the bank. The individual claims that the company\u2019s cross-selling scandal has caused &#8212; October 18, 2016","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/wells-fargo-deutsche-bank-neuberger-berman-grapple-401k-lawsuits\/","twitter_card":"summary_large_image","twitter_title":"Wells Fargo, Deutsche Bank, and Neuberger Berman Grapple with 401K lawsuits &#8212; Investor Lawyers Blog &#8212; October 18, 2016","twitter_description":"A plaintiff who is a participant in Wells Fargo\u2019s 401(K) plan is suing the bank. The individual claims that the company\u2019s cross-selling scandal has caused &#8212; October 18, 2016","twitter_misc":{"Written by":"Shepherd Smith Edwards &amp; Kantas, LLP","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/wells-fargo-deutsche-bank-neuberger-berman-grapple-401k-lawsuits\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/wells-fargo-deutsche-bank-neuberger-berman-grapple-401k-lawsuits\/"},"author":{"name":"Shepherd Smith Edwards &amp; Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"Wells Fargo, Deutsche Bank, and Neuberger Berman Grapple with 401K lawsuits","datePublished":"2016-10-18T19:33:15+00:00","dateModified":"2021-09-20T20:43:06+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/wells-fargo-deutsche-bank-neuberger-berman-grapple-401k-lawsuits\/"},"wordCount":700,"keywords":["401K Lawsuits","Neuberger Berman"],"articleSection":["Deutsche Bank","Financial Firms","Wells Fargo"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/wells-fargo-deutsche-bank-neuberger-berman-grapple-401k-lawsuits\/","url":"https:\/\/www.investorlawyers.com\/blog\/wells-fargo-deutsche-bank-neuberger-berman-grapple-401k-lawsuits\/","name":"Wells Fargo, Deutsche Bank, and Neuberger Berman Grapple with 401K lawsuits &#8212; Investor Lawyers Blog &#8212; October 18, 2016","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#website"},"datePublished":"2016-10-18T19:33:15+00:00","dateModified":"2021-09-20T20:43:06+00:00","author":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"description":"A plaintiff who is a participant in Wells Fargo\u2019s 401(K) plan is suing the bank. 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