Former employees of a corporate travel management company received final approval for an $8.7 million class settlement resolving litigation over their stock plan.
The deal, which represents about 39% of the maximum possible damages, is expected to provide average net payments of more than $9,000 to each of 608 people who had vested accounts in the World Travel Inc. employee stock ownership plan. It resolves allegations against plan trustee Prudent Fiduciary Services LLC, Prudent’s founder, and World Travel’s former president.
Judge Harvey Bartle III of the US District Court for the Eastern District of Pennsylvania issued the final approval order ...
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