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Wells Fargo facing $2.6B suit by former bankers

Another lawsuit, this time by former employees, has hitWells Fargo & Co.over the scandalinvolving illegally opened accounts, according to Bloomberg News.

The suit, filed by Alexander Polonsky and Brian Zaghi inCalifornia, claims senior bankers as high up as CEO knew that improper methodswere being used to reach quotas. Managers allegedly even coached employees inthe practices.

The plaintiffs are seeking class-action status on behalf ofWells bankers in California who have been fired, demoted or forced to resignover the past decade because they did not meet sales quotas. The claims includewrongful termination, improper business practices and failure to pay wages.They are looking to get at least $2.6 billion in damages, Bloomberg reported.