Trojan Horse Retirement Plan Class Action Settlement

Participants in a Trojan Horse Ltd. retirement plan may be entitled to benefits under a $2.7 million ERISA class action settlement.

This settlement covers employees of Trojan Horse Ltd., Glen Burnie Hauling Inc., BDH Logistics LLC, or Capitol Expressways Inc. who participated in the Trojan Horse Ltd. 401(k) retirement plan between certain dates in 2011 and 2016.

The Trojan Horse retirement plan was administered by defendant Ascensus Trust Company. Plaintiffs Garibaldi Longo, Allen Hester, Carl Swanson and Steven White say they all made contributions to the plan through payroll deductions, but that Ascensus failed to deposit those contributions with the plan.

Plaintiffs claim that by failing to properly deposit those contributions, Ascensus violated terms of the Employee Retirement Income Security Act of 1974, or ERISA.

In September 2016, the court granted Class certification and entered judgment against all the defendants. Ascensus appealed the order. While the appeal was pending, the parties reached the current settlement agreement.

The agreement requires Ascensus to put up a settlement fund worth more than $2.7 million. This fund will be used to pay Class Members a large portion of the funds they had deducted from their pay but that were never deposited with the Trojan Horse plan.

Ascensus also agrees to pay class counsel’s court costs, attorneys’ fees, and up to $40,000 of the costs of settlement administration. Administration costs exceeding that amount will be covered with money from the settlement fund.

Class Members will have the options of receiving payment or a rollover. Class Members do not need to file a claim or take any other action to receive benefits under this settlement. Class Members may want to update their contact information with the settlement administrator.

Any Class Members who prefer to object to the settlement must submit their objections by May 7, 2018. The settlement website does not say whether Class Members can exclude themselves from the settlement.

Who’s Eligible

The settlement Class covers all Trojan Horse Ltd. 401(k) plan participants who contributed to the plan through payroll deduction from Jan. 1, 2011 through Sept. 20, 2016.

Persons who aren’t sure whether they qualify as a Class Member are invited to contact the settlement administrator to confirm.

Potential Award

Varies.

Each Class Member’s share of the settlement fund will be about 85 percent of the amount of money that was deducted from their pay for plan contributions but not deposited in the plan on the Class Member’s behalf.

Proof of Purchase

No proof of purchase or other documentation needs to be submitted. Each Class Member’s entitlement will be determined according to their payroll records.

FAQs

No Claim Form is necessary to get benefits from this settlement.

CLICK HERE FOR INFORMATION »

NOTE: If you do not qualify for this settlement do NOT file a claim.

Remember: you are submitting your claim under penalty of perjury. You are also harming other eligible Class Members by submitting a fraudulent claim. If you’re unsure if you qualify, please read the FAQ section of the Settlement Administrator’s website to ensure you meet all standards (Top Class Actions is not a Settlement Administrator). If you don’t qualify for this settlement, check out our database of other open class action settlements you may be eligible for.

Claim Form Deadline

There is no Claim Form deadline.

Case Name

Longo, et al. v. Trojan Horse Ltd., et al., Case No. 5:13-cv-00418-BO, in the U.S. District Court for the Eastern District of North Carolina

Final Hearing

6/5/2018

Settlement Website

www.TrojanHorseSettlement.com

Claims Administrator

Longo v. Trojan Horse
c/o Angeion Group
1801 Market Street, Suite 660
Philadelphia, PA 19103
1-877-445-0259

Class Counsel

Stephen A. Dunn
S. Michael Dunn
EMANUAL & DUNN

Steven R. Jaffe
Mark S. Fistos

Defense Counsel

Robert H. Bernstein
Michael J. Slocum
GREENBERG TRAURIG LLP