Treasurer Magaziner Votes Against Wells Fargo Board, Following Massive Fraud

April 24, 2017: Rhode Island General Treasurer Seth Magaziner has joined shareholders from across the country by voting against all sitting independent directors at Wells Fargo, following the massive fraud perpetrated against their customers. The Rhode Island pension fund currently owns 139,256 shares of Wells Fargo (NYSE: WFC).

"Over the course of many years, the board of directors at Wells Fargo failed to provide adequate oversight of the company, including its illegal sales practices," said Treasurer Magaziner. "Millions of Wells Fargo customers were harmed while the board abdicated their oversight authority - all while being compensated with shareholder's money. I cannot in good faith reward their indifference by voting to approve their continued tenure on the Wells Fargo board."

You can read the entire press release here.