The settlement, reached in mediation, is non-reversionary, resolving California labor law and federal wage-and-hour claims. Plaintiffs state in their motion for approval that “If plaintiffs and the class prevailed on some or all of their class claims at trial, they would almost certainly face an additional appeal by Wells Fargo.” Further, plaintiffs would like not receive any relief until 2021, if they elected to pursue their case through the courts.
The average settlement payout is $174 per class member. Recipients include tellers who’ve worked for the bank from August 20, 2008, and certain service managers who worked for the bank from April 7, 2011. Additionally the seven named plaintiffs will receive $10,000 each under the agreement.
The case is Wells Fargo Bank Wage and Hour Cases, case number JCCP4702 in the Superior Court of the State of California, County of Los Angeles.