Wilmington Trust NA and two former directors of envelope maker BSC Ventures Holdings Inc. agreed to a $8 million class settlement with participants in the company’s employee stock ownership plan.
The deal would provide average gross payments of about $15,000 to 534 people covered by the BSC stock plan between January 2016 and December 2024. It represents about 33% of the participants’ best possible recovery in the case, according to a motion seeking preliminary settlement approval filed Wednesday in the US District Court for the District of Delaware.
The lawsuit, which withstood a motion to dismiss in 2021, says Wilmington ...
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