SupercitedVerified Matter
Wells Fargo Financial Advisor Wage and Expense Class Settlement Gallo
$9.5 million class settlement for California Wells Fargo financial advisors over wage, expense-reimbursement and compensation claims.
Current and former Wells Fargo financial advisors brought class and wage-and-hour claims alleging that the company failed to reimburse necessary business expenses, made unlawful deductions from compensation, failed to pay commissions and other wages on time, and misclassified advisors as exempt from overtime requirements. The parties ultimately reached a $9.5 million class settlement covering California financial advisors.
Result
- Outcome
- Settlement
- Value
- $9,500,000
- Short result
- $9.5 million class settlement for California Wells Fargo financial advisors over wage, expense-reimbursement and compensation claims.
- Remedy
- Monetary Relief
- Year
- 2018
- Published
- 2026-09-03
Supporting sources
- PDF — Tsyn settlement agreement and supporting materials · Court filing
- GovInfo — February 16, 2016 summary-judgment order · Government record
- Justia — February 2017 filed stipulation and order · Court filing
- Law360 — Wells Fargo To Pay $9.5M To End Financial Adviser Pay Row · News / public announcement
- Gallo LLP — Results / Tsyn v. Wells Fargo Advisors · Firm-confirmed information
- Employee Business Expense Reimbursement · California Labor Code § 2802 · Statute / rule
- Unlawful Collection/Recapture of Wages · California Labor Code § 221 · Statute / rule
- Timing of Wage Payments · California Labor Code § 204 · Statute / rule
- Fair Labor Standards Act — Overtime · 29 U.S.C. § 207 · Statute / rule
- Federal Rule of Civil Procedure 23 · Class Actions · Statute / rule