Wells Fargo has been involved with more lawsuits in Harris County than any other private sector firm over the past five years, a Houston startup’s examination of civil court filings finds.
The bank has been a part of roughly 1,900 civil lawsuit cases in the past five years, which is almost twice as high as the next company, JPMorgan Chase, according to a study by Houston-based Snap Diligence. The startup, which launched in 2017, offers a platform to subscribers to search millions of secretary of state and civil litigation records in Texas.
Snap Diligence used its own platform to examine about 197,916 civil cases over the past five years in Harris County for the study. Banks made up nearly half of the top-15 companies that have been sued the most in Harris County over the past five years.
Wells Fargo has been part of an ongoing scandal involving the opening of millions of fraudulent accounts without the consent of clients. It’s the second-largest bank in the Bayou City by local deposits, according to Houston Business Journal research. But civil suits involving companies are only part of the overall civil litigation picture, as the entity most involved with lawsuits in the Houston area is, after all, the government.
Unsurprisingly, the office of the attorney general was named in about 54,000 civil lawsuits that Snap Diligence examined, making it the entity most involved with lawsuits in the study. Next, Independent School Districts were named in about 37,000 cases with HISD accounting for about half of all ISD civil litigation in the Houston area. Combined, governmental bodies made up more than 85 percent of civil litigation in the Houston area over the past five years.
Snap Diligence has about eight employees and could add around five more people this year, said David Grimes, CEO and co-founder of Snap Diligence. Revenue numbers for 2017 were not disclosed, but Grimes said the company has raised about $2.3 million and is in the middle of a bridge round. A subscription is about $35 a month.