Reese LLP represents clients in a wide array of class actions involving Consumer Fraud, Antitrust and Securities law violations.

Cases: Securities Fraud

American Funds

Reese LLP participated in a securities class action involving the American Funds and undisclosed material conflicts of interest whereby the defendant entered into revenue-sharing agreements (“kickbacks”) with brokerages and selling agents who sold the American Funds. The defendant financed these arrangements from fees charged to the American Funds investors without disclosing the kickback scheme to the investors.

Wells Fargo Securities

Reese LLP represented the lead plaintiff in a securities class action against Wells Fargo & Co., Wells Fargo Funds Management, LLC, and the Wells Fargo Funds Trust for hundreds of millions of dollars in inadequately disclosed kickback payments that the defendants made to dealers of the Wells Fargo Funds as motivation to spur those dealers to sell even more Wells Fargo Funds. Although Wells Fargo did not disclose the revenue-sharing scheme to Wells Fargo Funds investors, fees charged to the investors paid for the scheme. Reese LLP negotiated a confidential settlement among the parties.