Tuesday, April 24, 2012

Wells Fargo Denies Access to Community Shareholders at Annual Meeting

SAN FRANCISCO—(ENEWSPF)—April 24, 2012. In an unprecedented move today, Wells Fargo CEO John Stumpf denied entry to hundreds of community shareholders. Having been waiting for hours to attend the corporation’s annual shareholder meeting, the community shareholders were denied entry by Wells Fargo in an attempt to avoid answering questions from community members that had planned to attend the meeting to hold the corporation accountable for its destructive business practices that profit from communities’ losses.

Wells Fargo restricted entry to the community shareholders with barricades, claiming they were filled to capacity while they continued to let in shareholders that were not part of the protest through a side door. Wells Fargo also packed the room with its own employees so as to allow no room for additional shareholders to access the meeting, making inaccurate claims about the meeting room’s capacity.

Outside the meeting, thousands of people gathered in downtown San Francisco, to confront Wells Fargo executives at the financial institution’s annual shareholder meeting, demanding that Wells Fargo CEO John Stumpf and other executives address the concerns of the 99%. “Wells Fargo’s actions today demonstrate what communities across this country have been experiencing for years: Wells Fargo is indifferent to the havoc they are wreaking in our communities and they do not want to be held accountable,” said Wallace Hill, whose home was foreclosed on by Wells Fargo in Oakland.

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