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Wells Fargo agrees to pay $480 million to shareholders to settle fake accounts suit 

May 04, 2018By

The fallout from Wells Fargo’s fake accounts scandal is not finished yet. The bank announced Friday afternoon that it reached a new settlement over its sales practices and will pay $480 million to a group of shareholders who accused the bank of making “certain misstatements and omissions” in the company’s disclosures about its sales practices.

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