Professor Bank Examines Wells Fargo & Embattled CEO in Los Angeles Times

September 26, 2016—Professor Steven Bank discussed the potential retributions against embattled Wells Fargo CEO John Stumpf in a Los Angeles Times article. Wells Fargo could take back over $50 million in clawbacks, and shareholders might also be able take legal action if Stumpf is not required to give back some unvested shares.

“If they fail to implement their clawback policy, there could be a suit against the board saying they’ve breached their fiduciary duty,” Professor Bank said, though he added it’s not clear whether such a suit would be successful.

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