Wells Fargo Adopts Bylaw Amendments, Changes Legal Forums

Wells Fargo (WFC) has released an update to notify the public and investors about corporate charter and bylaws modifications.

On January 23, 2024, Wells Fargo & Company’s Board of Directors approved amendments to its By-Laws, effective February 1, 2024. These amendments aim to clarify and narrow the scope of terms and provisions regarding stockholder director nomination notices. Additionally, they establish the Court of Chancery of the State of Delaware as the primary legal forum for certain actions against the Company, with federal district courts as the exclusive forum for cases related to the Securities Act of 1933, unless the Company agrees to an alternative forum in writing.

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