A settlement of $32,500,000.00 has been proposed to resolve claims by Former and Current Participants in the Wells Fargo & Company 401(k) Plan (the “Plan”) who invested in certain Plan investments (“Challenged Funds”) since March 13, 2014 through the date on which the Settlement becomes Final.
Current and Former Participants who invested in the Challenged Funds since March 13, 2014 may be eligible to receive a share of the Qualified Settlement Fund based on the Plan of Allocation. Payments to Current Participants will be deposited into their respective Plan accounts. Payments to Former Participants will be mailed as checks by the Settlement Administrator to the best available address. However, Former Participants can instead elect to rollover their payments into qualified retirement plan accounts or individual retirement accounts.