Darlene Alt

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The “Shutout” of M&A Strike Suits and Disclosure Settlements

The scenario is a familiar one. Public companies announce a proposed merger and move forward to solicit shareholder approval. Shareholder class actions challenging the merger soon follow. They often allege that the board of directors breached their fiduciary duties by failing to disclose sufficient information or by disseminating false or misleading disclosures about the proposed … Continue Reading

$185 Million: A High Price for Wells Fargo’s “Cross-Selling” Practices

Last week, the Consumer Financial Protection Bureau (CFPB) imposed its largest penalty ever against Wells Fargo Bank, N.A. for violations of the Consumer Financial Protection Act (CFPA). The bank agreed to pay a $100 million fine to the CFPB’s Civil Penalty Fund, a $35 million penalty to the Office of the Comptroller of the Currency, … Continue Reading
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