On Friday, Oct. 16, San Francisco Superior Court Judge Christine Van Aken granted Wells Fargo summary judgment in former CEO Tim Sloan's $34 million lawsuit over withheld pay.

Why it matters: The ruling ends, at least for now, one of the last legal fights left over from the bank's fake-accounts scandal.

Background

  • Sloan retired in 2019 after 31 years at the bank.
  • He sued in 2023 to recover compensation the bank withheld.
  • The ruling was filed under seal, and the judge ordered a redacted version made public.

Reaction

"We strongly disagree" with the ruling and are "considering our next steps," said Sloan's lawyer, David Lowe. Wells Fargo spokesperson Beth Richek declined to comment, according to the Charlotte Observer.