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Case: Retirement Plans/Class Actions (E.D. Pa.)

May 4, 2021, 1:43 AM

A $21.6 million ERISA class settlement with Wawa Inc.'s former employees who said they were forced to sell their company stock at an unfair price received final approval in the U.S. District Court for the Eastern District of Pennsylvania. The class members will receive about $500 per share of liquidated stock, and their counsel will receive $4.4 million in fees and expenses. Class members claimed that the Pennsylvania-based convenience-store chain misled employees into thinking they could keep their company stock until age 68 and then forced them to relinquish the stock in their retirement accounts at an unfair price.

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