Adam Levitt Quoted in Law360 Article re Wells Fargo ERISA Class Action

Oct 17, 2018

DiCello Levitt’s co-founding partner, Adam Levitt, was quoted in the article “Wells Fargo Workers Fight To Revive 401(k) Row In 8th Circ.,” published in Law360 on October 11, 2018. The article highlights the Employee Retirement Income Security Act class action lawsuit brought by current and former Wells Fargo employees who say the company improperly invested their retirement savings. Plaintiffs allege the bank breached its fiduciary duties by investing in Wells Fargo despite plummeting stock prices resulting from the news that it had engaged in a scheme to open millions of fraudulent checking and savings accounts. Plaintiffs are asking the 8th Circuit to revive the case, which was dismissed by U.S. District Judge Patrick Schiltz in September.

Adam Levitt is quoted in the article as saying that the legal team looks forward to “explaining to the Eight Circuit why Judge Schiltz’s opinions were erroneous and why Wells Fargo’s retirement plan participants’ financial interests merit protection from Wells Fargo’s rampant misconduct.”

To read the article in its entirety, click here.

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