Wilmington Trust $8M ERISA Class Action Settlement
If you participated in the BSC Ventures Holdings Inc. Employee Stock Ownership Plan (ESOP) or were a beneficiary between January 14 2016 and December 31 2024, you could automatically receive money from an $8 million settlement with Wilmington Trust. Payments will be distributed pro rata—no claim form is required. Review the details below and keep your contact information current to ensure you get your share.
Download Claim Form (PDF)Who Is Eligible?
- Anyone who had an account in the BSC Ventures Holdings Inc. ESOP at any time from Jan. 14 2016 through Dec. 31 2024
- Beneficiaries of those participants during the same period
Settlement Benefits
- Total Fund: $8,000,000
- Estimated Individual Payment: Varies based on the number of vested BSC shares in your ESOP account
- Distribution Method: Automatic—no claim form to file
How Your Payment Is Calculated
- Your vested shares as of Dec. 31 2024 (or before any prior distribution) are divided by the total vested shares held by all class members to create an “entitlement percentage.”
- Your percentage is multiplied by the net settlement fund after fees, taxes and costs.
Key Dates
- Fairness Hearing: December 3 2025
- Payout Timeline: Payments will go out after final approval and any appeals are resolved.
Why Was This Lawsuit Filed?
Plaintiffs alleged Wilmington Trust, as ESOP trustee, breached fiduciary duties under the Employee Retirement Income Security Act (ERISA) by allowing the plan to buy BSC stock in 2016 at more than fair market value. Wilmington Trust denies wrongdoing but agreed to settle to avoid ongoing litigation costs and uncertainties.
Next Steps for Class Members
- No action is needed to receive payment.
- If your mailing address, email or phone number has changed, notify the settlement administrator.
- Monitor bscesopsettlement.com for updates.
Contact Information
Settlement Administrator: RG/2 Claims Administration LLC
Henry v. Wilmington Trust
P.O. Box 59479, Philadelphia, PA 19102-9479
Email: info@rg2claims.com
Phone: 866-742-4955
Frequently Asked Questions
Do I need to submit a claim for the Wilmington Trust $8M ERISA settlement?
No. Payments will be calculated from ESOP records and mailed automatically.
How will my share be determined?
Your distribution equals your vested share percentage multiplied by the net settlement fund.
When will I get paid?
After the court grants final approval on or after December 3 2025 and any appeals are resolved.
What if I moved recently?
Provide your new address to the settlement administrator at the contact information above.
Where can I read the full settlement documents?
You can review the Settlement Agreement (PDF) on the official website.