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WNTCu.FI
id: 464

Bio Profit Funds $4.35MM Investor Settlement

The settlement funds have been distributed to claimants.
$4,350,000
Cash Settlement
W.D. New York
Court
6:14-cv-06631
Case number
01/01/2000
Class period Start
11/11/2022
Class period End
01/04/2023
Claim deadline

Bio Profit Litigation

Wilmington Trust Company and other Defendants agreed to pay $4.35 million to settle a class action lawsuit to avoid further litigation.

Those who invested money in the Bio Profit Funds (BPS I, BPS II, BPS III, BPS V, or Velocity Valley & Grand) offered by Velocity Investment Group, Inc., and lost money as a result of your investment, may be entitled to a payment from a class action settlement.

Case Type
US Securities Class Action
Case Status
Disbursed
Alleged Offence
Other
Suspected Party
Other
Security Type
Derivative (Futures, Option, SWAP)
Trade Direction
Long
Plaintiffs
Yao-Yi Liu, Tung-Hung Hsieh, Chiu-Pao Tsai
Attorneys
Rosca Scarlato, LLC
Judge
Hon. Elizabeth A. Wolford
Administrator
Strategic Claims Services
Court hearing date
01/11/2023
Trades matching type
FIFO

Frequently Asked Questions

Who is eligible for this settlement?

All persons and entities who invested in the Bio Profit Scheme—including the BPS I, BPS II, BPS III, BPS V, or Velocity Valley & Grand Funds—between June 2005 and October 2013, and were damaged thereby.

Do I have to sell securities to be eligible?

No, if you have purchased securities within the class period, you are eligible to participate.

You can participate in the settlement and retain (or sell) your securities.

How long does the payout process take?

The entire process usually takes 4 to 9 months after the claim deadline. But the exact timing depends on the court and settlement administration.

What is 11th Estate?

11thestate is an investor recovery company, we help investors to track and collect securities class action settlements. We will:

1. Prepare documents for your payout

2. Audit the claim and make sure you get the maximum possible payout

3. File a claim with the settlement administration

4. Correspond with the settlement administration to resolve emerging issues

5. Deliver payout directly to your brokerage account

There is no upfront cost, but we will deduct 20% of the recovered amount as a commission for our services.