Via FindLaw – Alexander Polonsky, et al. v. Wells Fargo, Los Angeles Superior Court, September 22, 2016.
“The lawsuit was filed by two former employees, but seeks compensation for any and all Wells Fargo employees penalized for not meeting sales quotas over the past 10 years. In September, the bank fired over 5,000 employees for opening some two million accounts in customers’ names without their authorization. The lawsuit claims Wells Fargo is punishing lower level employees for policies that came from, and were intended to benefit higher level executives: “Wells Fargo knew that their unreasonable quotas were driving these unethical behaviors that were used to fraudulently increase their stock price and benefit the CEO at the expense of the low-level employees.”
- See also the New York Times DealBook – Voices From Wells Fargo: ‘I Thought I Was Having a Heart Attack’: “The scandal at Wells Fargo over the creation of unauthorized accounts shook its customers’ faith in the bank, but it took an even sharper toll on the company’s workers. A number of them say they faced a stark choice: Create new accounts by any means possible, or risk being fired for falling short of their sales goals…”