Moody & Warner, P.C. Announces Court Approval Of $32 Million Settlement In National Gender Discrimination Suit Against Wachovia Securities, Now Known As Wells Fargo Advisors [USA]
[T]he U.S. District Court for the District of Columbia approved a $32 million settlement of a national gender discrimination case against...Wells Fargo Advisors. Women financial advisors...brought the case...on behalf of a national class of women financial advisors...The case alleges that Wells Fargo...discriminated against a class of...3,000 female financial advisors throughout the United States due to their gender. According to the complaint, the discrimination deprived women financial advisors of opportunities to develop business by, among other things, denying them a fair share of account distributions, fair treatment in investment partnerships...Wells Fargo Advisors...has denied the allegations in the complaint. In settling, it has agreed to make substantial internal changes to enhance the overall treatment and opportunities for women.