Defendant Name:
Wilmington Trust Corporation
Defendant Type:
Public Company
SIC Code:
6712
CUSIP:
97180710
Initial Case Details
Legal Case Name
In the Matter of Wilmington Trust Corporation
First Document Date
11-Sep-2014
Initial Filing Format
Administrative Action
File Number
3-16098
Allegation Type
Issuer Reporting and Disclosure
AAER
3582
Resolutions
First Resolution Date
11-Sep-2014
Headline Total Penalty and Disgorgement
$18,545,896
Related Documents:
33-9646
11-Sep-2014
Administrative Proceeding
Order Instituting Cease-And-Desist Proceedings Pursuant to Section 8A of the Securities Act of 1933 and Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing Remedial Sanctions and a Cease-And-Desist Order
On September 11, 2014, the SEC instituted administrative proceedings against Wilmington Trust Company. The SEC alleges that the Company made "false and misleading disclosures ... concerning its accruing loans past due 90 days or more."
2014-192
11-Sep-2014
Press Release--Administrative Proceeding
SEC Charges Bank Holding Company in Delaware with Improper Accounting and Disclosure of Past Due Loans
On September 11, 2014, the SEC announced accounting and disclosure fraud charges against Delaware-based bank holding company Wilmington Trust Company ("Wilmington Trust"), which was acquired by M&T Bank in May 2011, for failing to report the true volume of its loans at least 90 days past due as they substantially increased in number during the financial crisis. According to the SEC's order instituting a settled administrative proceeding, which was entered with Wilmington Trust's consent, the company agreed to pay $18.5 million in disgorgement and prejudgment interest.
34-88395
16-Mar-2020
Administrative Proceeding
Order Approving Tax Administrator
The Court stated: "IT IS ORDERED that Miller Kaplan . . . is appointed the Tax Administrator for the QSF in the above-referenced proceeding."
34-88779
30-Apr-2020
Administrative Proceeding
Order Appointing Fund Administrator and Setting Administrator Bond Amount
The SEC stated: "[I]t is hereby ORDERED, that Epiq is appointed as the fund administrator . . . and the administrator shall obtain a bond in the amount of $62,539,185.09."
34-89287
10-Jul-2020
Administrative Proceeding
Notice of Proposed Plan of Distribution and Opportunity for Comment
The Commission stated: "Notice is hereby given . . . that the Division of Enforcement has submitted to the Commission a proposed plan of distribution (the "Plan") for the distribution of monies paid in the above-captioned matter."
Proposed Plan of Distribution
The Commission stated: "The Division of Enforcement (“Division”) submits this proposed plan
of distribution (the “Plan”) . . . [T]he Plan provides for the distribution of the funds collected in the above-referenced proceeding from Wilmington Trust Corporation ("WTC" or "Respondent") to investors who purchased or otherwise acquired shares of WTC common stock during the period January 18, 2008 through October 31, 2010 (the "Relevant Period") and who suffered losses due to the conduct of the Respondent described in the Order."
34-89758
03-Sep-2020
Administrative Proceeding
Order Approving Plan of Distribution
The SEC stated: "[I]t is hereby ORDERED, pursuant to Rule 1104 of the Commission's
Rules, that the Plan is approved, and posted simultaneously with this order on the Commission's website at www.sec.gov."
Plan of Distribution
The SEC stated: "The Division of Enforcement ("Division") has prepared this plan of
distribution (the "Plan") pursuant to Rule 1101 of the Commission's Rules on Fair Fund and
Disgorgement Plans ("Commission's Rules") . . . As described more
specifically below, the Plan provides for the distribution of the funds collected in the above-referenced
proceeding from Wilmington Trust Corporation ("WTC" or "Respondent") to
investors who purchased or otherwise acquired shares of WTC common stock during the period
January 18, 2008 through October 31, 2010 (the "Relevant Period") and who suffered losses due
to the conduct of the Respondent described in the Order."
34-91816
10-May-2021
Administrative Proceeding
Order Approving Application of Fund Administrator and Expenses and Approval of Future Fees and Expenses
The Commission stated: "it is hereby ORDERED . . . that OFM pay the Fund Administrator's current fees and
expenses of $23,425.86 from the Distribution Fund."
34-92779
27-Aug-2021
Administrative Proceeding
Order Directing Disbursement of Distribution Fund
The Commission ordered that: "Commission staff shall transfer
$62,504,575.28 from the Distribution Fund to the Distribution Fund’s escrow account at The
Huntington National Bank, and the Fund Administrator shall distribute such monies to the
eligible investors in accordance with the Plan."
34-100571
22-Jul-2024
Administrative Proceeding
Order Directing Second Disbursement of Distribution Fund
The Commission ordered that: "the Fund Administrator shall disburse $1,612,529.44 held at The Huntington National Bank, N.A. in accordance with the Plan."
