Business Law
Breach of Fiduciary Duty
Illegal Overdraft Charges
Samuel Montini, derivatively on behalf of Wells Faro & Co. v. John G. Stumpf, et al.
Published: Aug. 24, 2013 | Result Date: Feb. 8, 2013 | Filing Date: Jan. 1, 1900 |Case number: CGC-11-514516 Demurrer – Defense
Court
San Francisco Superior
Attorneys
Plaintiff
Brian J. Robbins
(Robbins LLP)
Defendant
Gilbert R. Serota
(Arnold & Porter Kaye Scholer LLP)
Facts
Samuel Montini filed a shareholder derivative action, on behalf of Wells Fargo & Co., against certain of its officers and director alleging breach of fiduciary duty, waste of corporate assets, and unjust enrichment causing substantial damage to Wells Fargo. Defendants filed a demurrer as to each cause of action.
Result
Superior Court Judge Richard A. Kramer sustained the demurrer to each cause of action.
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