BSC Ventures Workers Finalize $8 Million Stock Plan Settlement

Wilmington Trust NA and two former directors of envelope maker BSC Ventures Holdings Inc. secured final approval for an $8 million class settlement with participants in BSC’s employee stock ownership plan.

The agreement, which represents about 33% of the participants’ best-case damages, is slated to provide average gross payments of about $15,000 to 534 people covered by the BSC stock plan between January 2016 and December 2024. Judge Jennifer L. Hall granted final approval to the deal and awarded class counsel more than $3 million in attorneys’ fees in an order issued Monday in the US District Court for ...