Two shareholders are suing Wells Fargo & Co. to block its proposed merger with Norwest Corp.

In documents filed Tuesday in Delaware Chancery Court, shareholders Jack Morrison and Jean Rutherford are claiming "breach of fiduciary duty" in Wells Fargo's decision to sell for a 9% premium over market value. The plaintiffs are requesting a preliminary injunction to halt the deal.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.