Wells Fargo to Pay $27.5M to Settle a California Wage Class Action Lawsuit

Posted on March 22nd, 2018 at 10:37 AM
Wells Fargo to Pay $27.5M to Settle a California Wage Class Action Lawsuit

From the Desk of Jim Eccleston at Eccleston Law LLC:

A California judge is set approve a $27.5 million settlement resolving a consolidated action brought by Wells Fargo bankers and sales representatives located in the state of California.

More specifically, the class actions accused Wells Fargo of failing to pay overtime, failing to provide workers with meal breaks, and failing to provide itemized wage statements under the federal Fair Labor Standards Act and the state's Unfair Competition Law and Private Attorneys General Act.  

Furthermore, under California labor law, employees are entitled to a 30-minute meal break every 5 hours, and 10-minute rest period every 4 hours. Moreover, if employees do not receive meal breaks or rest periods, they must be compensated one extra hour on their paycheck per missing break.

In addition, California labor laws require employees to be compensated for any off-the-clock work conducted during non-business hours.

According to the terms of the settlement, the eight lead plaintiffs in the lawsuit will receive $10,000 each, and the additional 28,463 class members will receive an average payment of approximately $660.

The attorneys of Eccleston Law LLC represent investors and advisors nationwide in securities and employment matters. The securities lawyers at Eccleston Law also practice a variety of other areas of practice for financial advisors including Broker Litigation & ArbitrationStrategic Consulting ServicesRegulatory  MattersTransition Contract Review, and much more. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services. If you are in need of legal services, contact us to schedule a one-on-one consultation today.


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As a financial advisor with over 20 years of experience, I feel fortunate to call Jim my attorney and friend. He is a fantastic lawyer and trusted advisor. He is skilled in the matters necessary to do the job well. He uses his thoughtful approach and calm demeanor to achieve a positive outcome for the client. If you want to feel confident that nothing will be missed and that you will be represented in a highly professional manner, call Jim Eccleston.

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