Saxena White is pleased to announce that a $240 million settlement has been reached in the consolidated federal shareholder derivative action captioned In re Wells Fargo & Company Shareholder Derivative Litigation, No. 3:16-cv-5541, pending in the United States District Court for the Northern District of California. The Settlement includes the largest insurer-funded cash component of any shareholder derivative settlement in history. The benefits to Wells Fargo of the proposed Settlement include a monetary consideration of $240 million paid to Wells Fargo from its insurers and Corporate Governance Reforms valued at $80 million. The Settlement is subject to Court approval, and a preliminary approval hearing is scheduled before the Honorable Judge Jon S. Tigar for April 4, 2019 at 2:00 p.m. PST in San Francisco, California.