Wells Fargo Mutual Fund Investors Urged by Gutride Safier LLP to Come Forward to Protect Their Rights in Class Action Kickback Suit

Market Wire
2007-03-01

In response to a tentative ruling this week by a San Francisco federal judge, lawyers today urged all investors in any Wells Fargo mutual fund (a.k.a. Wells Fargo Advantage Fund) to come forward immediately to protect their rights.

The suit concerns Wells Fargo's alleged practice of using investor assets to pay kickbacks to brokers who recom-mended its mutual funds. A federal securities lawsuit seeks to recover money for the investors.

Federal Judge William Alsup reiterated his approval of the lawsuit, which has been pending against all Wells Fargo mutual funds since November 2005, but tentatively limited the suit Monday to only six mutual funds owned by the plaintiffs. If the ruling becomes final, investors in the other approximately 96 Wells Fargo mutual funds might be excluded from the case.

In previous rulings, Judge Alsup found that Wells Fargo had allegedly engaged in "a persistent and deliberate scheme to use half truths to conceal a thriving system of kickbacks and concomitant conflicts of interest... By footing the bill for the undisclosed diversions, investors were unwittingly paying extra but getting nothing in return."

Court-appointed lead counsel for the investors, Gutride Safier LLP, urges investors in all Wells Fargo mutual funds to come forward immediately to preserve their rights. Any person who purchased a Wells Fargo mutual fund since No-vember 2000 should send an email to info@gutridesafier.com. If possible, the email should include the investor's name, telephone number and address, fund names or tickers, and amount owned. Further information and procedures will be provided to all investors who respond.

For additional information, email info@gutridesafier.com, call Gutride Safier LLP at (415) 271-6469 or (212) 579-4625, or visit www.gutridesafier.com.

The mutual funds at issue in the case are:

Wells Fargo Advantage 100% Treasury Money Market Fund (NASDAQ: WFTXX)

Wells Fargo Advantage Aggressive Allocation Administrator (NASDAQ: NWBEX)

Wells Fargo Advantage Asia Pacific (NASDAQ: SASPX)

Wells Fargo Advantage Asset Allocation (NASDAQ: SFAAX) (NASDAQ: WFAIX)

(NASDAQ: SASBX) (NASDAQ: WFALX)

Wells Fargo Advantage Balanced Investor (NASDAQ: STAAX)

Wells Fargo Advantage C&B Large Cap Value (NASDAQ: CBEAX) (NASDAQ: CBLLX)

(NASDAQ: CBEBX) (NASDAQ: CBECX) (NASDAQ: CBEQX) (NASDAQ: CBLSX)

Wells Fargo Advantage C&B Mid Cap Value (NASDAQ: CBMAX) (NASDAQ: CBMIX)

(NASDAQ: CBMBX) (NASDAQ: CBMCX) (NASDAQ: CBMDX) (NASDAQ: CBMSX)

Wells Fargo Advantage CA Limited-Term Tax Free (NASDAQ: SFCIX) (NASDAQ: SCTIX) (NASDAQ: SFCCX)

Wells Fargo Advantage CA Tax-Free (NASDAQ: SCTAX) (NASDAQ: SGCAX) (NASDAQ: SGCBX) (NASDAQ: SCTCX)

Wells Fargo Advantage California Tax-Free Money Market (NASDAQ: SGCXX)

Wells Fargo Advantage Capital Growth Fund (NASDAQ: SLGIX)

Wells Fargo Advantage Common Stock (NASDAQ: SCSAX) (NASDAQ: SCSKX) (NASDAQ: STSAX) (NASDAQ: STCSX)

Wells Fargo Advantage Company Tax-Free (NASDAQ: NWCOX) (NASDAQ: NCOTX)

(NASDAQ: NWCBX)

Wells Fargo Advantage Conservative Allocation (NASDAQ: NVCBX)

Wells Fargo Advantage Corporate Bond Fund (NASDAQ: STCBX)

Wells Fargo Advantage Discovery (NASDAQ: WFDDX) (NASDAQ: WFDSX) (NASDAQ: STDIX)

Wells Fargo Advantage Diversified Bond (NASDAQ: NVMFX)

Wells Fargo Advantage Diversified Equity (NASDAQ: NVDAX) (NASDAQ: NVDEX)

(NASDAQ: NVDBX) (NASDAQ: WFDEX)

Wells Fargo Advantage Diversified Small (NASDAQ: NVDSX)

Wells Fargo Advantage Dividend Income (NASDAQ: WWIDX) (NASDAQ: SDVIX)

Wells Fargo Advantage Dow Jones Target 2010 (NASDAQ: STNRX) (NASDAQ: WFLGX)

(NASDAQ: SPTBX) (NASDAQ: WFOCX) (NASDAQ: WFOAX) (NASDAQ: WFCTX)

Wells Fargo Advantage Dow Jones Target 2020 (NASDAQ: STTRX) (NASDAQ: WFLPX)

(NASDAQ: STPBX) (NASDAQ: WFLAX) (NASDAQ: WFOBX) (NASDAQ: WFDTX)

Wells Fargo Advantage Dow Jones Target 2030 (NASDAQ: STHRX) (NASDAQ: WFLIX)

(NASDAQ: SGPBX) (NASDAQ: WFDMX) (NASDAQ: WFOOX) (NASDAQ: WFETX)

Wells Fargo Advantage Dow Jones Target 2040 (NASDAQ: STFRX) (NASDAQ: WFLWX)

(NASDAQ: SLPBX) (NASDAQ: WFOFX) (NASDAQ: WFOSX) (NASDAQ: WFFTX)

Wells Fargo Advantage Dow Jones Target Today (NASDAQ: WFLOX) (NASDAQ: STWRX) (NASDAQ: WFOKX) (NASDAQ: WFODX) (NASDAQ: WFBTX) (NASDAQ: WOTDX)

Wells Fargo Advantage Emerging Growth Fund (NASDAQ: WFGTX)

Wells Fargo Advantage Emerging Markets Focus (NASDAQ: MFFAX) (NASDAQ: MNEFX) (NASDAQ: MFFBX) (NASDAQ: MFFCX)

Wells Fargo Advantage Endeavor Large Cap (NASDAQ: STALX) (NASDAQ: WELBX)

(NASDAQ: WELCX)

Wells Fargo Advantage Endeavor Select (NASDAQ: STAEX) (NASDAQ: WECDX)

(NASDAQ: WECBX) (NASDAQ: WECCX) (NASDAQ: WFCIX)

Wells Fargo Advantage Enterprise (NASDAQ: SEPKX) (NASDAQ: SENAX) (NASDAQ: WFEIX) (NASDAQ: SENTX)

Wells Fargo Advantage Equity Income (NASDAQ: NVAEX) (NASDAQ: NVIEX)

(NASDAQ: NVBEX) (NASDAQ: WFEEX)

Wells Fargo Advantage Equity Index (NASDAQ: SFCSX) (NASDAQ: SQIBX)

Wells Fargo Advantage Equity Value (NASDAQ: WLVAX) (NASDAQ: WLVIX) (NASDAQ: WLVBX) (NASDAQ: WLVSX)

Wells Fargo Advantage Government Money Market Fund (NASDAQ: WFGXX)

Wells Fargo Advantage Government Securities (NASDAQ: WGSDX) (NASDAQ: SGVDX)

(NASDAQ: WGSCX) (NASDAQ: STVSX)

Wells Fargo Advantage Growth (NASDAQ: SGRKX) (NASDAQ: SGRAX)

Wells Fargo Advantage Growth and Income (NASDAQ: SGIKX) (NASDAQ: SGNAX)

(NASDAQ: SGNIX) (NASDAQ: SGRIX)

Wells Fargo Advantage Growth Balanced (NASDAQ: WFGBX) (NASDAQ: NVGBX)

(NASDAQ: NVGRX) (NASDAQ: WFGWX)

Wells Fargo Advantage Growth Equity (NASDAQ: NVEAX) (NASDAQ: NVGEX)

(NASDAQ: NVEBX) (NASDAQ: WFGGX) (NASDAQ: WGEIX)

Wells Fargo Advantage Growth (NASDAQ: WGFCX) (NASDAQ: SGRNX) (NASDAQ: SGROX)

Wells Fargo Advantage High Income (NASDAQ: SHBAX) (NASDAQ: SHYYX) (NASDAQ: STHYX)

Wells Fargo Advantage High Yield Bond (NASDAQ: HYBAX) (NASDAQ: HYBBX)

(NASDAQ: HYBCX)

Wells Fargo Advantage Income Plus (NASDAQ: STYAX) (NASDAQ: STYBX) (NASDAQ: WFIPX)

Wells Fargo Advantage Index (NASDAQ: NVINX) (NASDAQ: WFVEX)

Wells Fargo Advantage Inflation Protection Bond (NASDAQ: IPBAX) (NASDAQ: IPBIX) (NASDAQ: IPBBX) (NASDAQ: IPBCX)

Wells Fargo Advantage Intermediate Government Income (NASDAQ: NVGAX)

(NASDAQ: NVGIX) (NASDAQ: NVBGX) (NASDAQ: WFGCX)

Wells Fargo Advantage Intermediate Tax Free Bond (NASDAQ: SIMBX)

Wells Fargo Advantage International Core (NASDAQ: WFIAX) (NASDAQ: WFIDX)

(NASDAQ: WFIBX) (NASDAQ: WFICX)

Wells Fargo Advantage International Equity (NASDAQ: SILAX) (NASDAQ: WFIEX)

(NASDAQ: SILBX) (NASDAQ: WFECX) (NASDAQ: WFISX)

Wells Fargo Advantage International Value (NASDAQ: WFFAX) (NASDAQ: WFVDX)

(NASDAQ: WFVBX) (NASDAQ: WFVCX) (NASDAQ: WFVIX)

Wells Fargo Advantage Large Cap Appreciation (NASDAQ: WFAPX) (NASDAQ: WFAKX) (NASDAQ: WFABX) (NASDAQ: WFACX) (NASDAQ: WFASX)

Wells Fargo Advantage Large Cap Growth (NASDAQ: STRFX)

Wells Fargo Advantage Large Company Core (NASDAQ: SLGAX) (NASDAQ: SLCKX)

(NASDAQ: WLCBX) (NASDAQ: WLCCX) (NASDAQ: WLCZX)

Wells Fargo Advantage Large Company Growth (NASDAQ: NVLAX) (NASDAQ: NVLCX)

(NASDAQ: NVLOX) (NASDAQ: WFLCX) (NASDAQ: WLCSX) (NASDAQ: WFLZX)

Wells Fargo Advantage LifeStage - Aggressive (NASDAQ: SAGGX)

Wells Fargo Advantage LifeStage - Conservative (NASDAQ: SCONX)

Wells Fargo Advantage LifeStage - Moderate (NASDAQ: SMDPX)

Wells Fargo Advantage Mid Cap Disciplined (NASDAQ: WFMDX) (NASDAQ: WFMIX)

(NASDAQ: SMCDX)

Wells Fargo Advantage Mid Cap Growth (NASDAQ: WFMCX) (NASDAQ: WFMBX)

(NASDAQ: WFMHX) (NASDAQ: WFMZX)

Wells Fargo Advantage MN Money Market (NASDAQ: WMNXX)

Wells Fargo Advantage MN Tax-Free (NASDAQ: NMTFX) (NASDAQ: NWMIX) (NASDAQ: NWMBX) (NASDAQ: WMTCX) (NASDAQ: WMTZX)

Wells Fargo Advantage Moderate Balanced (NASDAQ: WFMAX) (NASDAQ: NVMBX)

(NASDAQ: WMOBX) (NASDAQ: WFBCX)

Wells Fargo Advantage Money Market Fund (NASDAQ: WMMXX)

Wells Fargo Advantage Municipal Bond (NASDAQ: WMFAX) (NASDAQ: WMFDX)

(NASDAQ: WMFBX) (NASDAQ: WMFCX) (NASDAQ: SXFIX)

Wells Fargo Advantage Municipal Money Market Fund (NASDAQ: SXFXX)

Wells Fargo Advantage National Limited-Term Tax Free (NASDAQ: WNLAX)

(NASDAQ: NVLIX) (NASDAQ: WNLBX) (NASDAQ: WNLCX)

Wells Fargo Advantage National Tax Free Money Market (NASDAQ: NWMXX)

Wells Fargo Advantage National Tax-Free (NASDAQ: NWTFX) (NASDAQ: NTFTX)

(NASDAQ: NWTBX) (NASDAQ: WFNTX)

Wells Fargo Advantage NE Tax-Free Bond (NASDAQ: GPTFX)

Wells Fargo Advantage Opportunity (NASDAQ: WOFDX) (NASDAQ: SOPVX) (NASDAQ: SOPFX)

Wells Fargo Advantage Overseas (NASDAQ: WFIIX) (NASDAQ: SOVRX)

Wells Fargo Advantage Short Duration Government Bond (NASDAQ: MSDAX)

(NASDAQ: MNSGX) (NASDAQ: MSDBX) (NASDAQ: MSDCX) (NASDAQ: WSGIX)

Wells Fargo Advantage Short Term High-Yield Bond (NASDAQ: SSTHX) (NASDAQ: STHBX)

Wells Fargo Advantage Short Term Municipal Bond (NASDAQ: WSSCX) (NASDAQ: STSMX)

Wells Fargo Advantage Short-Term Bond (NASDAQ: SSTVX) (NASDAQ: SSHIX)

Wells Fargo Advantage Small Cap Disciplined (NASDAQ: WFSDX) (NASDAQ: WFSSX)

Wells Fargo Advantage Small Cap Growth (NASDAQ: MNSCX) (NASDAQ: WMNIX)

(NASDAQ: WMNBX) (NASDAQ: WMNCX) (NASDAQ: WFSIX) (NASDAQ: WFSZX)

Wells Fargo Advantage Small Cap Opportunity (NASDAQ: NVSOX)

Wells Fargo Advantage Small Cap Value (NASDAQ: SMVAX) (NASDAQ: SMVBX)

(NASDAQ: SMVCX) (NASDAQ: SSMVX)

Wells Fargo Advantage Small Company Growth (NASDAQ: WFSAX) (NASDAQ: WFSAX)

(NASDAQ: NVSCX)

Wells Fargo Advantage Small Company Value (NASDAQ: SCVAX) (NASDAQ: SCVIX)

(NASDAQ: SCVBX) (NASDAQ: SCVFX)

Wells Fargo Advantage Small/Mid Cap Value (NASDAQ: WWMDX) (NASDAQ: WWMSX)

(NASDAQ: SMMVX)

Wells Fargo Advantage Specialized Financial Services (NASDAQ: SIFEX)

(NASDAQ: SIFBX) (NASDAQ: SIFCX)

Wells Fargo Advantage Specialized Health Science (NASDAQ: WFHAX) (NASDAQ: WFHBX) (NASDAQ: WFHCX)

Wells Fargo Advantage Specialized Technology (NASDAQ: WFSTX) (NASDAQ: WFTBX) (NASDAQ: WFTCX) (NASDAQ: WFTZX)

Wells Fargo Advantage Stable Income (NASDAQ: NVSAX) (NASDAQ: NVSIX)

(NASDAQ: NVSBX) (NASDAQ: WSICX)

Wells Fargo Advantage Strategic Income (NASDAQ: SASAX) (NASDAQ: SASIX)

(NASDAQ: SASCX)

Wells Fargo Advantage Strategic Small Cap Value (NASDAQ: WFRAX) (NASDAQ: WFRDX) (NASDAQ: WFRCX)

Wells Fargo Advantage Total Return Bond (NASDAQ: WTRZX)

Wells Fargo Advantage Treasury Plus Money Market (NASDAQ: PIVXX)

Wells Fargo Advantage U.S. Value (NASDAQ: WFUAX) (NASDAQ: SEQKX) (NASDAQ: WFUBX) (NASDAQ: WFUCX) (NASDAQ: SEQIX)

Wells Fargo Advantage Ultra Short Duration Bond (NASDAQ: STSDX) (NASDAQ: SSDKX) (NASDAQ: SSHCX) (NASDAQ: STGBX)

Wells Fargo Advantage Ultra Short Term Income (NASDAQ: STADX)

Wells Fargo Advantage Ultra Short Term Municipal Income (NASDAQ: SMAVX)

(NASDAQ: SMAIX) (NASDAQ: SMUAX)

Wells Fargo Advantage Value (NASDAQ: CBTTX) (NASDAQ: CBTIX) (NASDAQ: CBTBX)

(NASDAQ: CBTCX) (NASDAQ: CBTAX)

Wells Fargo Advantage WealthBuilder Conservative Allocation (NASDAQ: WBCAX)

Wells Fargo Advantage WealthBuilder Equity (NASDAQ: WBGIX)

Wells Fargo Advantage WealthBuilder Growth Allocation (NASDAQ: WBGGX)

Wells Fargo Advantage WealthBuilder Growth Balanced (NASDAQ: WBGBX)

Wells Fargo Advantage WealthBuilder Moderate Balanced (NASDAQ: WBBBX)

Wells Fargo Advantage WealthBuilder Tactical Equity (NASDAQ: WBGAX)

Wells Fargo Advantage WI Tax-Free (NASDAQ: WWTCX) (NASDAQ: SWFRX)