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Wells Fargo Bank Class Action Alleges Lending Discrimination: Wells Seeks More Time to Respond to Plaintiffs’ Experts, According to Ellis George Law Firm

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SAN FRANCISCO, March 5, 2024 /PRNewswire/ — Wells Fargo Bank, N.A., (“Wells Fargo”) has filed a legal motion seeking more time to rebut three (3) expert reports submitted by the Plaintiffs in a nationwide class action lawsuit alleging racial discrimination in the bank’s mortgage lending practices against Black, Latino/Hispanic and Asian homebuyers. 

Wells Fargo states in its motion that it needs the additional time to “understand the bases for Plaintiffs’ expert opinions,” and that it will “suffer substantial harm and be materially prejudiced” if its request for an enlargement of time to respond is not granted.

The filing made on March 4 before Federal Judge James Donato in the Northern District of California  represents one of the many growing concerns on the part of Wells Fargo regarding the evidence it anticipates the Plaintiffs are likely to advance in support of their claims for as many as 750,000 potential class members.  Wells Fargo’s motion asks Judge Donato to provide it with three (3) additional weeks to respond to the Plaintiffs’ experts.

The lawsuit In Re Wells Fargo Mortgage Discrimination Litigation, Case No. 3:22-CV-00990-JD, alleges “that Black and other minority applicants had their applications intentionally and disproportionately denied, faced unjustified delays in the processing of their applications, and were given less favorable terms, which resulted in Wells Fargo systematically engaging in a new form of redlining that harmed Plaintiffs based on their race and ethnicity,” according to Dennis S. Ellis of Ellis George LLP, who was appointed by Judge Donato to lead the suit against Wells Fargo.

The lawsuit follows reporting by Bloomberg on March 10, 2022, that “Wells Fargo Denied More than Half Its Black Applicants in Refinancing Boom.”  As shown by the Bloomberg article, relying on data Wells Fargo disclosed as required by the Home Mortgage Disclosure Act (“HMDA”), the suit contends that at a time when millions of White Americans were able to take advantage of historically low-interest rates for home loans, Wells Fargo approved just 47% of refinance applications by Black homeowners, 53% for Hispanic and/or Latino refinance applicants, and 67% of Asian-American refinance applicants, compared with 71%, 79%, and 85% respectively for these same ethnic groups across all other lenders.

“Wells Fargo is obviously concerned with the expert evidence the Plaintiffs have submitted in support of their claims in this case, which will support  the Plaintiffs’ motion to certify a class of affected minorities who were subjected to Wells Fargo’s discriminatory lending practices,” said Ellis. 

“Wells Fargo had ample opportunity to address the effect of its lending practices and the harm it was causing as a company to hundreds of thousands of minorities, but chose to do nothing to alter its policies that were denying loans to those citizens at record disparities as opposed to White Americans.  Wells Fargo should not be afforded three (3) additional weeks to answer the Plaintiffs’ experts.  The fact that Wells Fargo years after instituting the discriminatory policies that have caused so much damage to its minority mortgage loan applicants still has no answer for its actions is appalling,”  Ellis added.

Wells Fargo, headquartered in San Francisco, is no stranger to allegations regarding its lending practices, including discrimination.  Late last year, the Consumer Financial Protection Bureau (“CFPB”) issued a notice to Wells Fargo regarding problems with its use of mortgage rates discounts. 

In the CFPB’s review it found “statistically significant disparities” in the rates in which Black borrowers got pricing exceptions compared with other customers.  This follows an order by the CFPB issued late last year requiring Wells Fargo to pay more than $2 billion in redress to consumers and a $1.7 billion civil penalty for legal violations across several of its largest product lines. The CFPB concluded that the bank’s illegal conduct led to billions of dollars in financial harm to its customers and, for thousands of customers, the loss of their vehicles and homes.

In response to the most recent notice from the CFPB, Wells Fargo refused to respond to the allegations specifically, and reiterated it is “proud to be the largest bank lender to minority families,” when contacted by CNBC for a response. 

Ellis states that this claim is eerily similar to what Wells Fargo has alleged in the lawsuit before Judge Donato.  “Wells Fargo claims that it is the largest bank lender to the Black community, as though that provides it with some sort of immunity for the unquestionable generational harm it has done to our community and other minorities through its lending practices.  The only thing that Wells Fargo can honestly claim being number one at during the period alleged in our lawsuit from 2018-2022, is denying more Black applicants the American dream of owning their own home by rejecting their loan applications, which we intend to prove was for discriminatory reasons.” 

Ellis states that HMDA records show Wells Fargo denied mortgage loans of more than 73,000 Black applicants during the four year period the lawsuit covers.

“Systematic racial discrimination in home ownership and financing is one of the most significant causes for the stark differences in generational wealth between Black Americans and others,” stated well-known civil rights attorney Ben Crump, who serves as co-counsel on the matter.

“That Wells Fargo would continue to exhibit this kind of behavior in the 21st century is unconscionable.  This case is about justice, not only for the named plaintiffs in this case but for every Black applicant or homeowner who was turned away by Wells Fargo because of the color of their skin. There should be no further delays in our attempt to hold Wells Fargo accountable for its wrongdoing, and we will thus oppose the request,” Crump added.

The complaint can be viewed HERE.

CONTACT:
Sam Singer
Singer Associates Public Relations
singer@singersf.com
415.336.4949

Additional Legal Contacts:

Trent Copeland, Esq.
Ellis George LLP
Cell/Text: (310) 569-6232
tcopeland@ellisgeorge.com

Dennis S. Ellis, Esq.
Ellis George LLP
Cell/Text: (213) 840-5001
dellis@ellisgeorge.com|

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SOURCE Ellis George LLP

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3M announces collaboration with GSEO to advance Expanded Beam Optical manufacturing and development

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October 19, 2026

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ST. PAUL, Minn., Oct. 19, 2026 /PRNewswire/ — 3M (NYSE: MMM) today announced a collaboration with Genius Electronic Optical Co., Ltd. (GSEO, Taiwan: 3406), an optical technology company, to advance technology development and manufacturing for 3M’s Expanded Beam Optical (EBO) solutions. In support of these efforts, 3M expects to make a strategic investment to acquire approximately 4.7% of GSEO’s common shares as part of the company’s private placement of newly issued shares, subject to customary closing conditions.

The collaboration brings together 3M’s EBO technology leadership, optical interconnect expertise, materials science, manufacturing scale and customer relationships with GSEO’s precision optics manufacturing capabilities and production scale. Together, the companies aim to support EBO commercialization and long-term capacity expansion to meet growing demand from hyperscale data centers and other advanced connectivity applications.

“3M is investing in capabilities and partnerships that can accelerate innovation for our customers,” said William Brown, 3M Chairman and CEO. “By selecting GSEO as a manufacturing partner and investing in the company, we are strengthening the path to scale next-generation optical connectivity solutions for high-performance data center infrastructure.”

GSEO’s existing precision optics manufacturing capabilities and technical development experience are expected to support manufacturing readiness for 3M’s EBO ferrules, co-packaged optics solutions and related optical interconnect applications. The collaboration is part of 3M’s broader EBO ecosystem strategy, which includes continued work with customers and partners across the optical interconnect market.

“GSEO is pleased to expand its relationship with 3M as we work together to advance optical interconnect solutions for next-generation data center infrastructure,” said Micro Kuo, GSEO CEO and President. “This collaboration brings together complementary technology and manufacturing strengths to support continued innovation and help meet the performance demands of high-growth connectivity markets.”

3M expects the strategic investment to close in the fourth quarter of 2026, subject to customary closing conditions.

Forward-Looking Statements
Certain statements in this release are considered “forward-looking statements” under the federal securities laws, including the Private Securities Litigation Reform Act of 1995, as amended, and are intended to enjoy the protection of those laws. Forward-looking statements may appear throughout this release and are typically identified by the words “aim,” “anticipate,” “believe,” “can,” “continue,” “could,” “estimate,” “evaluate,” “expect,” “forecast,” “future,” “goal,” “guidance,” “impact,” “initial,” “intend,” “likely,” “may,” “outlook,” “plan,” “possible,” “potential,” “predict,” “probable,” “project,” “seek,” “should,” “strategy,” “target,” “will,” “would,” and other words that are similar to, or have the opposite meanings of, those words. Forward-looking statements speak only as of the date they are made, 3M assumes no duty to update those statements, and readers are cautioned not to place undue reliance on any of those statements. Forward-looking statements are based on certain assumptions and expectations of future events and trends that are subject to risks and uncertainties, including those described in Part I, Item 1A, “Risk Factors” of 3M’s Form 10-K for the year ended December 31, 2025.

About 3M
3M (NYSE: MMM) is focused on transforming industries around the world by applying science and creating innovative, customer-focused solutions. Our multi-disciplinary team is working to solve tough customer problems by leveraging diverse technology platforms, differentiated capabilities, global footprint, and operational excellence. Discover how 3M is shaping the future at 3M.com/news.

Contacts
3M
Investor Contact:
Diane Farrow, 612-202-2449
Media Contact:
3MNews@mmm.com 

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Scott Vicknair Personal Injury Lawyers Announces Second Annual Operation Fur-Ever Home Pet Adoption Event at Lafreniere Park

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October 19, 2026

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NEW ORLEANS, Oct. 19, 2026 /PRNewswire/ — Scott Vicknair Personal Injury Lawyers is excited to announce the return of its second annual Operation Fur-Ever Home, a free community pet adoption event taking place on Saturday, November 14, 2026, from 9:00 a.m. to 11:00 a.m. at Lafreniere Park in Metairie, Louisiana.

The free, family-friendly event will give attendees the opportunity to meet adoptable pets from local animal shelters, learn about responsible pet ownership, and potentially welcome a new furry companion into their homes. Those who preregister for the event will also be entered for a chance to win a Soundcore speaker and a free pet adoption.

“Last year’s event was everything we hoped it would be, and we are incredibly excited to bring Operation Fur-Ever Home back for a second year,” said David Vicknair, founding partner of Scott Vicknair Personal Injury Lawyers. “There is something special about watching a family meet a pet that could become part of their lives for years to come. We wanted to create another opportunity to make those connections while supporting the organizations that work tirelessly to care for animals in our community.”

Building on the success of the first event, this year’s event continues the firm’s commitment to supporting local animal shelters and creating meaningful opportunities for families throughout Southeast Louisiana.

“Giving back to our community has always been an important part of who we are as a firm,” said Vicknair. “Whether we are helping students prepare for school, recognizing deserving teachers, or supporting local animal shelters, our goal is to make a positive difference in the communities we serve.”

Operation Fur-Ever Home is free and open to the public. Families, animal lovers, and anyone interested in adopting a pet are encouraged to attend and preregister.

About Scott Vicknair Personal Injury Lawyers

Scott Vicknair Personal Injury Lawyers is a New Orleans-based personal injury firm committed to providing exceptional legal representation while also investing in the communities it serves. Their experienced team of dedicated attorneys specializes in car accidents, personal injury, and wrongful death cases in New Orleans. With diverse personal and professional backgrounds, they craft legal strategies tailored to each client’s specific case and needs.

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Can we produce low-cost omega-3s without relying on fish?

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32 minutes ago

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October 19, 2026

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GOLD COAST, Australia, Oct. 19, 2026 /PRNewswire/ — Southern Cross University researchers are aiming to halve the cost of producing omega-3 supplements to make these essential nutrients more accessible to pregnant women and infants in low-income countries, backed by the University’s first-ever grant from The Gates Foundation.

The research takes a novel approach: rather than relying on fish oil, the team is going closer to the original source of omega-3. Fish don’t produce omega-3 themselves – they accumulate it from marine microorganisms lower in the food chain.

Led by Professor Dirk Erler from Southern Cross University’s Faculty of Science and Engineering, the team is investigating how these naturally omega-3-producing microorganisms can be grown more cheaply through precision fermentation, including the use of agricultural and food-processing by-products as a source of fermentation sugar.

Omega-3 is an important nutrient during pregnancy and early life, supporting brain and nervous system development in babies. But the cost of supplements remains a significant barrier to access in many low-income countries.

“The main barrier for the uptake of omega-3s as supplements in pregnant women is the cost,” Professor Erler said.

“The whole objective of our project is to reduce that cost and make omega-3 supplements more available.”

The research team at Southern Cross University, which includes biomedical scientist Dr Nedeljka Rosic, Dr Shane McIntosh, postdoctoral researcher Dr Jasmine Haskell and PhD researcher Michael Ingram, is focused on growing omega-3-producing marine microorganisms known as thraustochytrids – or ‘throstys’ for short.

“By growing those microorganisms on land through precision fermentation, we have an alternative way of producing omega-3s that is both reliable and highly targeted,” Professor Erler said.

Precision fermentation allows the researchers to grow thraustochytrids under controlled conditions to produce omega-3 oils. The team is investigating whether expensive feedstocks used in the process can be replaced with lower-cost agricultural and food-processing by-products, helping drive down the overall cost of production.

The approach could also reduce reliance on wild-caught fish as a source of omega-3 oil and create a more reliable, scalable, and local supply.

For biomedical scientist Dr Nedeljka Rosic, the production challenge is ultimately about what greater access to omega-3 could mean for women and babies.

“As a biomedical scientist, my purpose is to find ways to use science to improve people’s health,” Dr Rosic said.

“This project is important because it aims to improve the health of pregnant women and children and reduce preterm births through simple dietary improvements.”

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SOURCE Southern Cross University

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