Brenntag Profit Sharing Plan $2.3M Class Action Settlement

UPDATE:

• The Court granted final approval to this settlement Aug. 10, 2021.
• Let Top Class Actions know when you receive a check in the comments section below or on our Facebook page.

Current and former Brenntag USA Profit Sharing Plan participants may be eligible to benefit from a $2.3 million settlement agreement.

The Class includes anyone who participated in the plan at any point between Jan. 8, 2014, and April 8, 2021 (the Class Period), including any beneficiary of a deceased person who participated in the plan at any time during that period and any alternate payee of a person subject to a Qualified Domestic Relations Order who participated in the plan at any point during that period. 

A class action lawsuit alleged Brenntag violated its fiduciary duties of loyalty, care, and prudence regarding its profit sharing plan by not using its bargaining power when it came to fees and expenses charged against participants’ investments.

Brenntag has denied all allegations of wrongdoing but has agreed to the settlement in order to avoid the cost and uncertainty of ongoing litigation. The Court has not ruled in favor of either the plaintiffs or defendants.

Brenntag North America distributes chemical and ingredients, offering more than 10,000 products and servicing more than 40,000 customers in the United States and Canada.

Each Class Member will be entitled to a proportionate share of the settlement fund after attorneys’ fees and other costs have been paid.

The amount each Class Member will receive will be calculated according to a plan approved by the Court.

The settlement administrator will obtain Class Members’ plan account balances as of Dec. 31, 2014, and Dec. 31 of each subsequent year, and June 30 for 2020.

Each Class Member’s account balances for each year of the Class Period based on the account balances as of these dates will be summed; that amount will be the Class Member’s balance.

Each claimant in the Brenntag settlement will receive a share of the net settlement fund in proportion to the Class Member’s balance compared to the sum of the balances of all Class Members.

Those who are entitled to a distribution of less than $10 will not receive a payment.

Class Members are not required to file a claim form in order to benefit from this settlement. 

The entitlement amount for Class Members who had an account with a positive balance as of June 30, 2020, will be paid into the plan.

Former participants will receive their payment by check.

A final hearing in the Brenntag settlement is scheduled for Aug. 9, 2021.

Class Members do not have the right to opt out of the settlement; however, they do have until July 9, 2021, to object to the settlement.

Who’s Eligible

The Class includes anyone who participated in the plan at any point between Jan. 8, 2014, and April 8, 2021 (the Class Period), including any beneficiary of a deceased person who participated in the plan at any time during that period and any alternate payee of a person subject to a Qualified Domestic Relations Order who participated in the plan at any point during that period. 

Potential Award

Varies.

• The amount each Class Member will receive will be calculated according to a plan approved by the Court.
• Each claimant in the Brenntag settlement will receive a share of the net settlement fund in proportion to the Class Member’s balance compared to the sum of the balances of all Class Members.
• Those who are entitled to a distribution of less than $10 will not receive a payment.

Proof of Purchase

No proof of purchase is necessary, and Class Members will not be required to produce records that show their plan activity.

Claim Form

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

No claim form is required.

Case Name

Buescher et. al v. Brenntag, et al., Case No. 5:20-cv-00147-JMG in the U.S. District Court for the Eastern District of Pennsylvania

Final Hearing

08/09/2021

Settlement Website

BrenntagERISASettlement.com

Claims Administrator

Brenntag ERISA Settlement
c/o JND Legal Administration
P.O. Box 91348
Seattle, WA 98111
833-961-3968

Class Counsel

CAPOZZI ADLER PC

Defense Counsel

MORGAN, LEWIS & BOCKIUS LLP