In re Wells Fargo & Co. S'holder Derivative Litig.

Before the Court are the Motions to Dismiss the Consolidated Amended Verified Stockholder Derivative Complaint filed by defendants John D. Baker II, Elaine L. Chao, John S. Chen, Lloyd H. Dean, Elizabeth A. Duke, Susan E. Engel, Enrique Hernandez, Jr., Donald M. James, Cynthia H. Milligan, Federico F. Peña, James H. Quigley, Judith M. Runstad, Stephen W. Sanger, Susan G. Swenson, and Suzanne M. Vautrinot (collectively, the "Director Defendants"), ECF No. 144, Timothy J. Sloan, ECF No. 139, Carrie Tolstedt, ECF No. 140, Michael J. Loughlin, ECF No. 141, and John R. Shrewsberry, ECF No. 143. 1 The Court will grant the motions in part and deny them in part.

I. BACKGROUND

This is a shareholder derivative action on behalf of Wells Fargo & Company *1082 ("Wells Fargo") against the company's officers, directors, and senior management. ECF No. 83, Consolidated Amended Verified Stockholder Derivative Complaint ("Compl.") ¶ 64. Plaintiffs allege that, "[f]rom at least January 1, 2011 to the present ('the Relevant Period'), Defendants knew or consciously disregarded that Wells Fargo employees were illicitly creating millions of deposit and credit card accounts for their customers, without…