Former Wells Fargo CEO Tim Sloan Files $34 Million Lawsuit Against Bank
TL;DR Summary
Former Wells Fargo CEO Tim Sloan has filed a lawsuit against the company, seeking over $34 million in unpaid compensation. Sloan alleges that Wells Fargo unlawfully withheld his deferred pay and bonus after he stepped down as CEO in 2019. He also seeks damages for emotional distress. Sloan argues that the bank is depriving him of earned compensation without justifiable cause, while Wells Fargo maintains that compensation decisions are based on performance. During Sloan's tenure, Wells Fargo faced scandals and regulatory penalties, and Sloan claims he was made a scapegoat for sales-practices abuses.
- Former CEO Tim Sloan Sues Wells Fargo for $34 Million PYMNTS.com
- Ex-Wells Fargo CEO Sloan Sues Over $34 Million in Withheld Pay Bloomberg
- Former Wells Fargo chief seeks $34mn in lawsuit over cancelled stock grants Financial Times
- Ex-Wells Fargo CEO sues bank for $34 million in withheld pay, stock Yahoo Finance
- Ex-Wells Fargo CEO sues bank for over US$34mil in withheld pay, stock Free Malaysia Today
- View Full Coverage on Google News
Reading Insights
Total Reads
0
Unique Readers
11
Time Saved
1 min
vs 2 min read
Condensed
75%
365 → 93 words
Want the full story? Read the original article
Read on PYMNTS.com