Master File No. 10-cv-00990-ER
Welcome to the Information Website for the In re Wilmington Trust Securities Litigation, Master File No. 10-cv-00990-ER (D. Del.) (the “Action”).
The information contained on this web page is only a summary of information presented in more detail in the Settlement Notice of (I) Proposed Settlements and Plan of Allocation; (II) Settlement Fairness Hearing; and (III) Motion for an Award of Attorneys’ Fees and Reimbursement of Litigation Expenses (the “Settlement Notice”). Because this website is only a summary, you should review the Settlement Notice for additional details.
The Court-appointed representatives for the Court-certified Class, the Coral Springs Police Pension Fund, the St. Petersburg Firefighters’ Retirement System, the Pompano Beach General Employees Retirement System, the Merced County Employees’ Retirement Association, and the Automotive Industries Pension Trust Fund (collectively, “Lead Plaintiffs” or “Class Representatives”), on behalf of themselves and the Class (as defined below), have reached two all-cash settlements in the Action, as follows: (i) a $200 million settlement with the Wilmington Trust Defendants and Underwriter Defendants (the “Wilmington Trust/Underwriter Settlement”) and (ii) a $10 million settlement with KPMG LLP (the “KPMG Settlement,” and together with the Wilmington Trust/Underwriter Settlement, the “Settlements”).
Following a hearing on November 5, 2018, the Court finally approved the Settlements and entered Orders approving the Plan of Allocation for the proceeds of the Settlements and awarding Plaintiffs’ Counsel attorneys’ fees and reimbursement of Litigation Expenses.
The Class consists of:
all persons or entities who purchased or otherwise acquired Wilmington Trust Corporation (“Wilmington Trust”) common stock during the period January 18, 2008 up to November 1, 2010 (the “Class Period”), including all persons or entities who purchased shares of Wilmington Trust common stock issued in the secondary common stock offering that occurred on or about February 23, 2010 (the “Offering”), and were damaged thereby, except for except for certain persons and entities who are excluded from the Class by definition (see paragraph 24 of the Settlement Notice).
If you are a Class Member, in order to be potentially eligible to receive a payment under the proposed Settlement(s), you were required to submit a Claim Form postmarked no later than November 26, 2018. Payments to eligible claimants will be made after the completion of all claims processing. Please be patient, as this process will take some time to complete.