Settlement Status

The proposed Settlement provides the following:

  • The total Settlement Amount is $8.7 million. This amount will go to payments to Class Members, as well as pay for the costs of Settlement administration, fees and costs of an independent fiduciary if the Settlement becomes Final, payment of Class Counsel’s attorneys’ fees and costs, and payment of any approved Service Award to the Named Plaintiffs in the case.
  • Under the proposed Settlement, your estimated payment will be based on the proportion of the vested shares of World Travel stock you held in the Plan during the Class Period divided by the total number of vested shares held by all Class Members in the Plan during the Class Period.
    • If you have an active ESOP account in the World Travel, Inc. ESOP, the payment will be a cash allocation to be deposited into a money market fund in your ESOP account.
    • If you do not have active ESOP account, you may choose to receive your payment either by check or as a deposit into an individual retirement account or other eligible retirement plan, by completing an Election Form.
  • If you are a Class Member, your options available under the Settlement include:
    • DO NOTHING: I you do nothing and the Settlement is approved, you will receive your Settlement payment in your active ESOP account if you have one, or via check or deposit to a retirement plan if you do not have an active ESOP account.
      • Class Members without an active ESOP account may make an election by returning the election form. If you do not return the election form, then your Settlement payment will be paid by check, less tax withholding.
    • OBJECT: If you are not satisfied with the terms of the proposed Settlement, then you or your attorney may inform the Court by sending a letter or written statement.
  • A Final Approval Hearing for the proposed Settlement is scheduled for June 12, 2023.