#sec

https://www.stocktitan.net/sec-filings/NTAP/form-4-net-app-inc-insider-trading-activity-d08f092e431a.html

While we stay up overnight wondering if we have a job.

Not saying she is, but if she is found to be partaking in Insider Trading, report at once to the SEC!

https://www.stocktitan.net/sec-filings/HUM/form-4-humana-inc-insider-trading-activity-bf89f440dd06.html

Assuming it will be in the SEC papers but trying to see what timing of the next round could be.

There are rumours Oracle wants to bring employee count between 80,000 and 100,000

When Offshoring Raises Concerns About a Company’s U.S. Identity.
Employees can raise concerns about workforce shifts.
Relevant agencies include the U.S. Securities and Exchange Commission (SEC) and U.S. Department of Labor (DOL).

Workers may also contact elected representatives to share concerns.

Do not be surprised if the SEC and the Feds raid Basking Ridge in the next couple of months.

It's SEC's turn today.

Veradigm filed a Form 12b-25 saying it could not file its annual report on Form 10-K for the year ended Dec. 31, 2025 by the deadline without unreasonable effort or expense. The company said prior financial statements for 2021 and certain interim periods in 2021 and 2022 should no longer be relied upon due to revenue misstatements tied to internal control failures. It also said its 2020 financial statements should no longer be relied upon because of misstatements identified during audit procedures. Veradigm said it has not filed multiple periodic reports for 2023 through 2025, including the 2024 Form 10-K and quarterly reports for 2025. The company said Nasdaq delisted its common stock after determining it remained noncompliant with filing and annual meeting requirements.

Check out the SEC sales on C level stock sales. Even the President is selling her shares while touting that everything is just fine. For Shame! Millions and millions people!

https://www.investor.fisglobal.com/financial-information/sec-filings/

Normally Oracle has a 2 year restructuring plan (e.g. 2022 and 2024 plans).
However, in the latest 10-Q, this is now labelled as "Fiscal 2026 Oracle Restructuring Plan". Check it yourself at investor.oracle.com under SEC filings; top of page 11 of the latest 10-Q.

This clarifies that the residual of the $2.1bn available (over $1.1bn) is planned to be spent before the end of the fiscal (in the next 10-11 weeks).

Those calling it a 2-year plan that might run to the end of FY27 are missing this.

Or is it just that program?

Do you know, is this the kiss of death.

https://investors.xerox.com/node/31106/html

We now have to pay to use our own intellectual property (names and products):
"Under that agreement, Xerox and selected subsidiaries retain worldwide, royalty-bearing rights to use the contributed IP, paying IPCo a 2.0% royalty on specified consolidated revenue"
https://www.stocktitan.net/sec-filings/XRX/8-k-xerox-holdings-corp-reports-material-event-51419028ca39.html

This comment on another post [Post ID: @OP+1kh9rs9x2] is a very good factual summary. I like how the OG poster explained how/why/what/when that led to the Chapter 11 and going Private. Pretty stunned that, despite all the verifiable facts and SEC Filings that some people still believe (see comments) the Chapter 11 was a choice and that Alan Masarek had any other option available to him. Jim Chicago & Kieran McGrath were protected by the Chapter 11 Filing. If not, they would not have escaped criminal charges brought by the SEC (note -- different than civil suits they have escaped). Avaya would have liquidated without the chapter 11 due to the irregularities in the SEC filings.
+++++++++++++++++++++++++++
August 9, 2022 SEC 12b-25
NOTIFICATION OF LATE FILING

"Furthermore, and separately [from the delayed 10-Q SEC Earnings Report Filing] the Audit Committee has also commenced an internal investigation to review matters related to a whistleblower letter that remains ongoing"

https://www.sec.gov/Archives/edgar/data/1418100/000141810022000083/formnt10-q3q22.htm

Apollo and it's army of organizations that conspire to take over companies "stepped in" by creating an entrapment to force Alan Masarek's hand into allowing the Chapter 11 so they could steal equity and take Avaya private.

TIMELINE REMINDER

1. The Subscription game-- which was a risky short-term strategy to falsely inflate the Market Valuation of Avaya so the greedy BoD and C-Suite could sell Avaya for north of $5b -- caught up to them and they had nowhere to hide in March 2022. Now IF they could book an enormous deal they could have extended the charade for another few quarters. That deal was to be Wells Fargo, if memory serves. So they delayed earnings in hopes to find an accounting workaround to explain away the unexplainable math that was the earnings reality. NOTE -- They spent since late 2019 fudging the numbers based on an algorithm of subscription-economy math that assumed a set value for each base client multiplied by market potential for signing the base clients to a subscription plan. THESE WERE NOT REAL #'s!!! For many quarters they could escape scrutiny b/c maintenance contracts were still collecting money. But when the first round of the 3 yr subscription deals were up, they were left with evaporated maintenance deals and accelerated client departures. It was one large empty hole.
   In May 2022, the situation hit severe crisis status. There was no explaining away the #s. They needed more than just one enormous deal. The Slippery Slope Subscription game was now a runaway train. The BoD knew they needed something extreme to buy time to avoid being exposed for the 3.5 yr con-game of pretending that the marketing soundbytes of the "subscription economy" translated into real revenue. They initiated the age-old strategy of the CEO-Shuffle and began an aggressive search to name a new CEO before they had to face yet another SEC filing delay. They begin talks with Masarek in May. Hire him in June. Announce him in July. Masarek is up for the challenge and confident he can stabilize Avaya by December .....HOWEVER

2. Apollo Global deploys a leveraged lending takeover plan. It was an unofficial hostile takeover. They are able to secure some of the leveraged lending related to Avaya loans, yet not enough to execute a hostile takeover. So they instead devise a plan to make things so uncomfortable for Avaya leadership that they will just give in. They deploy their go-to auditing firms and dirty PR spin-doctors to both a) find dirt on Avaya to use as leverage; and b) entrap Avaya via auditing. This included names like Alix Partners.

3. August 2022 -- Internal Audit discloses that Avaya lacked Internal Controls due to a broken process of formally investigating Ethics and Corporate Compliance reports. One example was a "Whistleblower" which filed a formal complaint months (maybe even a year) prior questioning accounting documentation of subscription deals and the risk to the overall business. At the time of the report, it was Shefali Shah's responsibility to ensure the complaint was properly and formally investigated. Instead, it was never even pursued. The independent auditing firm identified the breach of protocol that must be followed by any publicly traded company. Therefore, they were obligated by law to report the breach of protocol to the SEC in their next "we still can't file earnings" extension filing. This is called an "ICFR Weakness
   November 28, 2022 SEC FORM 8-K Avaya Admits to Lack of Internal Controls based on result of investigation. This essentially states that they violated SEC Rules by not pursuing the whistleblower complaint, however stops short that the complaint itself qualified as a whistleblower concern. "The deficiencies in internal control over financial reporting (ICFR) represented “material weaknesses,” the cloud technology company said in a filing with the Securities and Exchange Commission (SEC)
   Avaya discloses ICFR weaknesses linked to whistleblower logs Compliance Week

https://www.complianceweek.com/accounting-and-auditing/avaya-discloses-icfr-weaknesses-linked-to-whistleblower-logs/32407.article

1. DECEMBER 2022 Apollo now believes they have Avaya cornered to give in to a Chapter 11 so they could go private and Apollo can deploy their tried and true law firms to manage the filing in their favor. Yet Alan Masarek was not giving in. So Apollo spent December 2022 maneuvering to force AMs hands. The end result of paying AM $10m ($6 m retention bonus so he would stay despite looming bankruptcy & $4m of his original sign-on bonus that he was required to use to buy Avaya shares. They waived that requirement and he was allowed to keep the money as cash. They also awarded Shefali Shah $1.2m as they needed her to help them go after Jim Chirico if that was necessary.

Avaya CEO To Get $6 Million Cash Award As Potential Bankruptcy Looms https://www.channelfutures.com/regulation-compliance/avaya-ceo-to-get-6-million-cash-award-stock-falls-below-nyse-minimum

SO @ab IS SPOT IN. THE WHISTLEBLOWER WAS REAL. IT WAS THE Everything. without that Whistleblower report Internal Controls Snafu, Apollo wouldn't have had the chance to deploy their gremlins to force AM into a takeover (also known as conspired Chapter 11).

It's not looking good. . .

https://www.investmentnews.com/regulation-legal-compliance/investors-sue-kyndryl-after-sec-probe-triggers-55-stock-crash/265264

ttps://the-mcclure-standard.ghost.io/lowes-new-rounds-of-layoffs-may-be-of-interest-to-the-sec/

You ever wonder who was the person that snitched on Chirico to the SEC? The house of cards most likely would have fallen at some point no doubt; but would love to know who hastened that event.

Barron's: 2/10/26 -

• Kyndryl Holdings shares plunged 55% to $10.59 after multiple executive departures and an SEC review of accounting practices.
• Guggenheim Partners downgraded the stock to Neutral, citing unanswered questions and weak fiscal third-quarter results.
• The company cut its fiscal 2026 revenue outlook to a 2% to 3% decline and reduced free cash flow guidance to $350 million.

Kyndryl’s future is too uncertain for investors to feel comfortable, according to Guggenheim Partners.

If there is one thing investors dislike most, it is uncertainty. Kyndryl Holdings’ future now looks more uncertain than ever after a historic selloff on Monday, analysts say.

Shares of the IT infrastructure company plunged 55% to $10.59 after Kyndryl announced the departures of Chief Financial Officer David Wyshner, General Counsel Edward Sebold, and Global Controller Vineet Khurana. The company also disclosed that it is reviewing its accounting practices following voluntary document requests from the Securities and Exchange Commission.

Guggenheim Partners downgraded Kyndryl stock to Neutral from Buy and withdrew its price target. In a research note, analyst Jonathan Lee said the announcements, combined with weak fiscal third-quarter results, raised more questions than answers.

The stock rebounded 5.3% on Tuesday to $11.15.

Lee said investors likely anticipated a weak earnings report from the former IBM spinoff but were unprepared for the abrupt exit of key legal and financial executives or the disclosure of material weaknesses in internal controls over financial reporting. The SEC review, in particular, is expected to remain an overhang on the stock.

Kyndryl said it is developing a remediation plan but offered no details, noting that additional information would be provided in a delayed quarterly securities filing.

“We expect investors to continue questioning execution and credibility until management provides an update on material weaknesses,” Lee wrote.

The company’s updated guidance also failed to reassure investors. Kyndryl now expects fiscal 2026 revenue to decline 2% to 3%, compared with a prior forecast of 1% growth. It also cut its midpoint free cash flow forecast to $350 million, down from $550 million.

According to Lee, the revised outlook casts doubt on Kyndryl’s long-term goal of generating $1 billion in adjusted free cash flow by 2028. Restoring confidence in that target will require a credible management team capable of executing a turnaround.

For now, analysts recommend caution. J.P. Morgan double-downgraded Kyndryl to Underweight from Overweight, and Oppenheimer cut its rating to Perform from Outperform.

https://www.barrons.com/articles/kyndryl-stock-downgrade-accounting-review-7245a725

"For nearly a year, the company dismissed short-seller allegations as mere 'falsehoods,' but today those chickens came home to roost with a $2.8 billion loss in market cap."

https://www.chartmill.com/news/KD/Chartmill-41541-kyndryl-accounting-implosion-sec-gotham-city-vindicates

CFO left, Chief counsel left.
Last years allegations by Gotham Research chicken’s are coming home to roost. Marty was cooking the books.

Devon, Coterra Merger Confirms Layoffs

https://www.upstreamonline.com/people/layoffs-on-horizon-after-58-billion-us-shale-merger/2-1-1938275

Devon Energy and Coterra Energy are merging in a $58 billion deal. Layoffs will occur at the newly combined company. The specific scope of these job reductions is not yet clear. This information was revealed in a US Securities and Exchange Commission filing. The companies have not provided further details on the specifics.

https://www.sec.gov/Archives/edgar/data/1341439/000119312525200095/R12.htm?hl=en-GB

The information contained on this website is only a summary of the information presented in more detail in the Notice of Pendency of Class Action ("Notice"). Because this website is just a summary, you should review the Notice for additional details.

A class action lawsuit is now pending in the United States District Court for the Northern District of Texas (the "Court") under the caption Ramirez v. Exxon Mobil Corporation, et al., Civil Action No. 3:16-cv-03111-K (N.D. Tex.) (the “Action”) against Exxon Mobil Corporation (“ExxonMobil” or the "Company"), Rex W. Tillerson, Andrew P. Swiger, Jeffrey J. Woodbury, and David S. Rosenthal (collectively, “Defendants”). The Action has been certified by the Court to proceed as a class action on behalf of a class of certain purchasers and acquirers of Exxon Mobil Corporation common stock. No trial has yet occurred in this Action and no findings of fact, fault, or liability have been made as to any of the parties.

The "Class,” as certified by the Court, consists of: All persons who purchased or otherwise acquired Exxon Mobil Corporation common stock between February 24, 2016, and October 28, 2016, inclusive (“Class Period”) and were damaged thereby.

Excluded from the Class are Defendants and their families, the officers and directors of ExxonMobil, at all relevant times, members of their immediate families and their legal representatives, heirs, successors or assigns, and any entity in which Defendants have or had a controlling interest.

OVERVIEW AND STATUS OF THIS ACTION

The Notice is not an admission by Defendants or an expression of any opinion by the Court concerning the merits of the Action or a finding by the Court that the claims asserted by the Class Representative in this Action are valid. The Notice is intended solely to advise you of the pendency of the Action and of your rights in connection with it, including the right to request exclusion from the Class. Defendants have: (i) denied all claims and wrongdoing asserted in the Action and any liability arising out of the conduct alleged therein; and (ii) asserted various defenses.

This is a securities class action against Defendants for alleged violations of the federal securities laws during the Class Period. Defendants deny all allegations of wrongdoing asserted in this Action and deny any liability whatsoever to any members of the Class.

The Court has not decided in favor of the Class Representative or Defendants. The litigation is ongoing. To date, there has been no recovery of any money for the Class.

YOUR RIGHTS AS A MEMBER OF THE CLASS

If you purchased or otherwise acquired Exxon Mobil Corporation common stock between February 24, 2016 up through and including October 28, 2016, and you are not excluded from the Class by definition, you are a member of the Class. If you are a member of the Class, you have the right to decide whether to remain a member of the Class. If you choose to remain a member of the Class, you do not need to do anything at this time other than to retain your documentation reflecting your transactions and holdings in Exxon Mobil Corporation common stock as discussed in the Notice. If you are a member of the Class and wish to be excluded from the Class, you must request exclusion in accordance with the procedure set forth in the Notice. Your decision is important for the following reasons:

If you choose to remain a member of the Class, you will be bound by all past, present, and future orders and judgments in the Action, whether favorable or unfavorable. If any money is awarded to the Class, either through a settlement with Defendants or a judgment of the Court, you may be eligible to receive a share of that award. If, however, Defendants prevail, you may not pursue a lawsuit on your own behalf with regard to any of the issues decided in this Action.

If you choose to be excluded from the Class, you will not be bound by any judgment in this Action, nor will you be eligible to share in any recovery that might be obtained in this Action. However, you may be able to retain the right to individually pursue any legal rights that you may have against any Defendants with respect to the claims asserted in the Action, although such claims may be time-barred. Please refer to the Notice if you would like to be excluded from the Class.

Unless otherwise allowed by the Court, members of the Class will not have another opportunity to exclude themselves or otherwise opt out of the Action.

Please note that if you remain a member of the Class, you will not be personally responsible for Class Counsel’s attorneys’ fees or costs. Class Counsel has agreed to represent the Class on a contingent fee basis, which means that they will be awarded fees and costs only if they succeed in obtaining a recovery from one or more Defendants. Any attorneys’ fees for Class Counsel will be awarded by the Court from the settlement or judgment, if any, obtained on behalf of the Class. As a member of the Class you will be represented by Class Counsel. You may remain a member of the Class and elect to be represented by counsel of your own choosing. If you do retain separate counsel, you will be responsible for that counsel’s fees and expenses and such counsel must enter an appearance on your behalf by filing a Notice of Appearance with the Court and mailing it to Class Counsel at the address set forth in the Notice on or before February 5, 2026.

Members of the Class will be eligible to participate in any recovery that might be obtained in the Action. While the Notice is not intended to suggest any likelihood that Class Representatives or members of the Class will recover any such damages, should there be a recovery, members of the Class will be required to support their requests to participate in the distribution of any such recovery by demonstrating their membership in the Class and documenting their purchases, sales, and/or holdings of Exxon Mobil Corporation common stock. For this reason, please be sure to keep all records of your transactions in these securities. No money or benefits are available now and there is no guarantee that money or benefits will be obtained. If they are, you will be notified regarding how to obtain a share.

ADDITIONAL INFORMATION
Although the information on this website is intended to assist you, it does not replace the information contained in the Notice of Pendency of Class Action, which can be found and downloaded on the Notices page of this website. We recommend that you read the Notice and other relevant case documents carefully. You may also wish to read the answers to Frequently Asked Questions provided on this website. If you have not received a Notice and would like to confirm that you are on the mailing list for further notice mailings in this matter, please contact the Notice Administrator and request that a Notice be sent to you at your current mailing address.

https://www.exxonmobilsecuritieslitigation.com/

Have you read the new partnership agreement? Class A shareholders will only get the 7.5% payments and that's it. No more variable profits.

Only Class B shareholders will get the variable profits (but no guaranteed payments at all).

It also talks about public offerings. Oh but we're not for sale, right? Funny how from what I can see, that piece wasn't in previous LP documents.

https://www.sec.gov/Archives/edgar/data/815917/000119312525266808/ck0000815917-ex3_1.htm

Did you know the SEC encourages whistleblowing and even incentivizes it?

"The SEC's whistleblower program was established by Congress to incentivize whistleblowers to report specific, timely and credible information about possible federal securities laws violations.

The Commission is authorized to provide monetary awards to eligible individuals who come forward with high-quality original information that leads to an SEC enforcement action in which over $1 million in sanctions is ordered. The range for awards is between 10% and 30% of the money collected."

If you see something, say something.

Learn more on the SEC.gov website:
https://www.sec.gov/enforcement-litigation/whistleblower-program

..cant pay them back.
Lays off 600+ so far to print artificial money.
Outsources IT to TCS with sub-par knowledge, skillsets, and abilities.
The organization eats the people that made it great, rewards and protects thr managerial, director, and vp branches. - hires a buzzword artist that has ties to Indian based TCS.. and guts the company just like he did at Shell.
The bowl is swirling.
Firesale is imminent.
Wouldn't doubt there being a SEC investigation or two in the future.

SB borrowed $500 mil of the company's money to buy out Uncle Carl so that he could remain in charge to earn $14 mil per year. At least Jeff Jacobson's middle of the night play to stay in charge and have Fuji buy Xerox would have been INFINITELY better than this s#*t show. SEC has to investigate this group of "leaders".

Here are numbers for 2024:

• Hans Vestberg – Former CEO – Total compensation: US$ 24.16 million
• Craig Silliman – Former EVP & President, Verizon Global Services – Total compensation: US$ 15.12 million
• Sowmyanarayan Sampath – EVP & Group CEO, Verizon Consumer – Total compensation: US$ 13.28 million
• Kyle Malady – EVP & Group CEO, Verizon Business – Total compensation: US$ 12.30 million
• Anthony Skiadas – EVP & CFO – Total compensation: US$ 11.25 million
• Vandana Venkatesh – EVP, Public Policy & Chief Legal Officer – Total compensation: US$ 6.43 million
• John Stratton – Executive at Verizon – Total compensation: US$ 7.04 million
• Marni Walden – Executive at Verizon – Total compensation: US$ 6.75 million
• Marc Christopher Reed – Executive at Verizon – Total compensation: US$ 6.17 million

Sources:

https://www.sec.gov/Archives/edgar/data/732712/000130817925000404/vz4363511-def14a.htm
https://www1.salary.com/VERIZON-COMMUNICATIONS-INC-Executive-Salaries.html
https://bullfincher.io/companies/verizon-communications/ceo-salary
https://salary.com/research/executive-compensation/verizon-communications-inc-executive-salary

They have to do it once a year, by SEC regulation, and 3 quarters are gone now, so it will be December. As bad as it was, the next call will be a lot worse.

class action lawsuits due to the nature of previous financial reporting?

Looks like Discovery is over according to the court docs. Any idea when the case goes to settlement or trial? Has factset disclosed the case yet or do they still think it‘s immaterial.

Since September 15 there have been 15 down days with the earnings announcement on October 22 coming up = bad news that has been leaked to select individuals.

Where is the SEC?????

$29.62 to $25.91

https://www.wsj.com/finance/regulation/massmutual-sec-probe-63d73f31?mod=hp_lead_pos10

Regulators Are Investigating MassMutual’s Accounting Practices
SEC is focused on how the insurer accounts for income on billions of dollars of loans

Is it the best decision he made after he became the Qualcomm CEO?

https://www.sec.gov/Archives/edgar/data/804328/000080432825000061/xslF345X05/edgardoc.xml

Seems like Dell is being investigated for the same thing they did in 2010

I was part of the RIF in May 2025 and have been watching from the sidelines ever since. I’m still interested in how the SEC program is faring now that so many people have left.

Accenture was meant to pick up most of the workload after the cuts. Have they managed to keep the SEC and EMEA conversion, along with the related upgrades, on the original timeline? Also curious how the other verticals are being supported, especially the legacy systems in the SAP space.

Any anonymous insight would be appreciated. Thanks in advance.

We had SEC in early May, and GT in early June.
Sure we still have EMEA folks on a different schedule, however there's been no other announcements. Especially in enabling functions, which usually follow tech.

I left this company a long time ago for a tech company, and remained a customer of this bank.

After a very lengthy, confusing, and almost incoherent call with a Wells Fargo employee recently regarding my investment accounts. I was left with more questions than I have answers. Not only could the individuals not assist me, It felt like they were following a script. No answers were provided, and My buy order was never placed. Just left a very sour taste in my mouth and led me to some other questions.

I hope this was a one off experience, But doubt that based on the employees I spoke with coinciding with the banks reputation Of being a habitual offender. It made me wonder who is looking at My personal information, specifically account activity, and info?

It was very difficult to understand these employees which makes me think they are not located in the states. it seemed each employee I spoke with had a different answer, even though I was asking the same question. Furthermore, if in fact, these employees I speak with are not located in the states I don’t feel comfortable with them reviewing my personal information, along with my investment account information.

It bothered me enough to where I had to do a little research and came across this site. let’s just say I am appalled, and conflicted at this company’s business practices or lack there of. Once I hung up, I could not help but wonder who is reading this information and how are they able to provide support if they are offshore?

It seems as if there is no risk or control framework in place that protects stateside customers. I felt very uncomfortable having to verify my information to someone from a Third World country where fraud is rampant, and supporters of Russia.

After reading the comments on this site. I am convinced that customers data is visible too all employees outside of the USA? After reviewing the comments on this site. It sure seems that way. I mean, how else would the employees I spoke with verify my information? Does this company not have any sort of information barriers or data governance policies in place? Another big concern of mine is, why am I speaking with someone located out of the states, supports Russia, and barely speaks English yet has a name like chuck.

I find it shocking, unethical, and risking customers information here in the states To save on labor costs when those savings will be paid to regulatory violations, if this bank is truly not protecting their customer data.

The sentiment alone on this site paints a picture of how risky it is. It really seems like there are disgruntled, employees, offshore, and stateside, and nobody knows what they are talking about.

I have been banking with this company for years But after my most recent call with this company, I find it too risky to continue doing business with them. I was never provided an answer to any questions, my buy order was never placed, and now it seems Offshore employees who support Russia’s war effort had full access to my information.

This is completely unacceptable! As a customer, and stakeholder, I am appalled! This has to be the most riskiest operating model I have ever Come across. I am not comfortable with my information, going offshore, especially information related to my investment and retirement accounts.

This experience coinciding with the recent report of the stress test, I Will be moving my money to a more secure institution. It has been many years since I had worked at this company But this is just risky, unethical, and morally wrong. When I hang up the phone with someone who has my sensitive information and access to my accounts, it made me lose sleep.

My next phone call will be me instructing them to move my money to another account at another company.

It’s a shame that this company has sacrificed talent for cheap labor. Let’s not forget they are also supporting an economy that is not the United States. It’s easy enough for me to take my business elsewhere. For a company that is trying to rebuild its reputation yet continues to be a habitual offender on regulatory matters, I guess my risk appetite is not as big as theirs. or they are just stupid! Spread the word, I know I will. Where the heck are the regulators?

#SEC
#WFC
#Ethics
#FutureEnron
#2025
#2024
#REGULATORS!
#Loopholes
#Anti-American
#Investing
#Banking
#CFPB
#OCC
#WellsFargoBank

How much more talent will Wells Fargo lose with their bullying tactics, offshoring US Domestic jobs, while they lack efficient risk management & controls at the same time? How can a CEO talk about being more efficient when his strategy has been proven to be unsustainable and fails (offshoring).

When will the BOD or Shareholders wakeup! You should be pi---d. The CEO is only positioning the company for “short term gains”, if any. Offshoring jobs for cheap labor is a way to make the balance sheet look good over the short term. Meanwhile the cracks have begun to appear. The CEO will leave this company worse than it ever was.

His offer letter provides him a golden parachute after 5 years in his role. Do you think it is a coincidence that the “assets cap not being removed until maybe 2025” was leaked? Clearly, This leak is to drive a narrative for the CEO who will leave next year per the terms of his offer letter, and the asset cap will remain over the company.

The guy has accomplished nothing but more fines and lying to shareholders and customers. Someone with that authority do something! He is creating more risk, the cracks are beginning to appear and affect our customers. The stock price has been the worst under this CEO.

WAKE UP PEAOPLE!! Hiring offshore does not make the company more efficient! It does the opposite, and creates risk! Offshoring also does nothing for the US economy. All those shops and restaurants that want employees to fully return to office don’t understand that it will not happen. Just look at all the building consolidations. That shows that the Strategy is not about collaboration, or better together, or any of that. IT IS ABOUT REDUCING COSTS BY FIRIBG US EMPLOYEES AND HIRING CHEAP, UNQUALIFIED LABOR TO DRIVE THE NARRATIVE THAT “THE FIRM” IS MORE EFFICIENT.

All the Shartman is really doing is making sure it looks like he cut costs, and reduced headcount while he approaches the end of his 5 year agreement stated in the CEO’s offer letter. He will then leave, and the conpany will continue to crumble from the severe harm and toxic workplace created by this chump. Someone standup! All the red flags are there. Wells Fargo is now the company to pay the highest amount of fines ever. BILLIONS OF MONIES that could have gone to investments, employees, and shareholders because of CURRENT LEADERSHIPS FAILURES.

Here is an inside look at how offshore is working out at “THE FIRM”.

https://www.cnbc.com/2023/08/14/employees-in-asia-are-spending-the-most-time-looking-busy-at-work.html

WE NEEE A BOARD AND LEASDERSHIP THAT UNDERSTAND THE BENEFITS AND EFFICIENCIES BY UTILIZING TECHNOLOGY WITH QUALIFIED EMPLOYEES. THAT IS HOW YOU TRULEY “DO MORE WITH LESS”.

MAYBE SOMEONE SHOULD FORCE THE CURRENT CEO, SENIOR LEADERSHIP, AND THE BOARD OF DIRECTORS TO DO “MORE WITH LESS”.

#WellsFargo
#WFC
#REGULATORY
#HABITUALOFFENDER
#2023
#2024
#2022
#2021
#2020
#2019
#Markets
#Banking
#RISKMANAGEMENT
#Offshore
#Failing
#Liars
#Outofpocket
#getsteppin
#powercorrupts
#corporategreed
#CEO
#Leadership
#SEC
#WSJ
#CFPB
#Inequality
#greed
#CSuiteSalaryReductions
#BOD
#Downgrade
#WellsFargoBank
#Technology
#AntiAmerican
#SmokenMirrors
#redflags
#stopthemadness
#Schart
#Sharted

This is for the haters, trolls and non believers. So, Read it and weep Trolls. Just the facts!!! The are outsourcing risk and compliance rolls! Lots if UGLY TRUTHS. Any other employee would have been fired. Keep driving this FAKE NARRATIVE of making progress.

Here is PROOF!?? Link to pdf:
https://pdfserver.amlaw.com/legalradar/pm-50684461_complaint.pdf

Below is a blip of what is contained in the filing.

“87. The March 2020 Congressional report also faulted the Board of Directors for allowing management to "repeatedly submit materially deficient plans in response to the Consent Orders." Report at p. 36. It noted that Wells Fargo submitted multiple deficient plans that required board review and with regards to plans required by the
OCC, board approval) in response to the 2016 Sales Practices Consent Orders. The Committee staffs investigation revealed that the CFPB and OCC repeatedly rejected the Bank's compliance and redress plans required under the 2016 Sales Practices Consent Orders as incomplete or otherwise deficient. The Report noted that Wells Fargo's Board was directly involved in the process and was specifically told what needed to be done to comply with the consent orders. 27

88. The Federal Reserve's staff even held one-on-one sessions with several of Wells Fargo's directors. 28 Still, the Board of Directors failed to ensure compliance with the consent decrees. For example, on April 3, 2018, Wells Fargo made its first submission of plans for board effectiveness and risk management under the 2018 Federal Reserve Consent Order. "Despite receiving consistent direction from Federal Reserve staff on what sufficiently detailed plans should include, Wells Fargo's first submission of plans for board effectiveness and risk management, made on April 3, 2018, fell woefully short of the Federal Reserve's expectations."29 In a May 7, 2018 response letter, Federal Reserve staff informed Wells Fargo that its submission was so "materially incomplete" that the plans, "cannot be evaluated by [Federal Reserve] staff.”

Brrr, BBrrrr….. oh wait, I think someone is Scharting their pants right now.

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