WELLS FARGO & COMPANY/MN 8-K

What Happened

• Wells Fargo & Company filed an 8-K on January 22, 2026, reporting that the U.S. District Court for the Northern District of California issued an Order granting preliminary approval of a proposed settlement on January 13, 2026.
• The company attached as Exhibit 99.1 a "Notice of Pendency and Proposed Settlement of Derivative Action" relating to shareholder derivative claims about Wells Fargo’s home mortgage lending practices and its hiring practices tied to diversity.

Key Details

• Court action: Order Granting Unopposed Motion for Preliminary Approval of Settlement — dated January 13, 2026.
• Filing date: Form 8-K filed by Wells Fargo on January 22, 2026; Notice provided as Exhibit 99.1.
• Nature of suit: Shareholder derivative litigation focused on home mortgage lending practices and diversity-related hiring practices.
• Status: Preliminary approval granted; settlement is proposed and subject to further court process (not final).

Why It Matters

• The filing signals that a proposed settlement in these governance- and operations-related disputes is moving through the court process. Investors should watch for subsequent filings that disclose the settlement terms, any required payments, compliance obligations, or governance changes.
• This 8-K notifies the market of the procedural step (preliminary approval and Notice) but does not itself disclose settlement amounts or direct financial impact; those details, if material, would be reported in follow-up disclosures.