Sarah Mirando  |  June 14, 2011

Category: Legal News

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Wells Fargo Reaches Wachovia Gender Discrimination Class Action Settlement

By Sarah Pierce

 

WachoviaWells Fargo & Co. has agreed to pay $32 million to settle a gender bias class action lawsuit alleging its subsidiary Wachovia Securities LLC discriminated against female financial advisers by blocking career advancement and paying them less than men. The class action settlement covers female financial advisors of Wells Fargo Advisors, A.G. Edwards and Prudential Securities.

The Wachovia gender discrimination class action lawsuit was filed two years ago by three employees of Wachovia Securities who alleged the company had systematically denied equal employment opportunities to its female financial advisors since 2003, keeping women from moving into more “prestigious roles” or management positions.

The Wells Fargo Wachovia gender discrimination class action settlement covers the following class of women:

(1) All women who were employed in the United States as a financial advisor by Wachovia Securities, LLC or its successor Wells Fargo Advisors, LLC at any time between March 17, 2003 and January 25, 2011; and/or Wells Fargo Investments, LLC at any time between December 31, 2008 and January 25, 2011.

(2) All women who were employed in the United States as a financial advisor by A.G. Edwards & Sons, Inc. between October 1, 2007 and January 25, 2011.

(3) All women who were employed in the United States as a financial advisor by Prudential Securities, Inc. between July 1, 2003 and January 25, 2011.

Class members of the Wachovia gender discrimination settlement can file a claim to receive cash payments by submitting a claim form postmarked no later than June 20, 2011. (*NOTE: A previous notice was mailed to class members in February with dates and deadlines that were later revised by the Court. A second mailing was issued March 21 with the amended claim form deadline of June 20).

You can find claim forms and more information about your rights in the Wachovia Gender Discrimination Class Action Lawsuit Settlement at www.WachoviaGenderDiscrimination.com.

The case is Carter v. Wells Fargo Advisors LLC, 09-cv- 01752, U.S. District Court, District of Columbia (Washington).
 

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Updated June 14th, 2011

 

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One thought on Wells Fargo Reaches Wachovia Gender Discrimination Class Action Settlement

  1. Anonymous says:

    Wells Fargo Reaches Wachovia Gender Discrimination Class Action Settlement
    THEY FORECLOSED ON MY HOME,I BLACK FEMALE SINGLE HOMEOWNER AN AS OF 7/31/2011 I WILL HAVE TO LEAVE MY HOME( :'(:'(:’)

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