Welcome
Class Action News

Wawa $21.6 Million Forced Stock-Sale Settlement Approval Sought

July 10, 2020, 4:23 PM

Former Wawa Inc. employees urged a federal court in Pennsylvania Thursday to preliminarily approve a $21.6 million class settlement resolving allegations that the workers had to sell their company stock at an unfair price.

Plaintiffs alleged the Pennsylvania-based convenience-store chain gave workers a bad deal on the stock in their employee stock ownership plan in the course of a forced sell-off. The suit, filed in August 2018, followed a $25 million settlement between Wawa and a different group of workers who also challenged the transaction.

The proposed settlement includes a payment of $21.6 million—minus attorneys’ fees and expenses, and class...

To read the full article log in. To learn more about a subscription click here.