Argent OK'd Paying $133M Too Much For Stock, Workers Say

Law360 (April 18, 2019, 9:01 PM EDT) -- Argent Trust Co. violated the Employee Retirement Income Security Act when it led a Choate Construction Co. employee stock ownership plan to pay $198 million for $65 million worth of their company’s stock, a former Choate worker claimed Wednesday in a proposed class action.

Former Choate Construction employee Sharon Lee sued Argent and others in North Carolina federal court over a 2016 deal in which the Choate Construction Co. employee stock ownership plan paid $198 million for 80% of the general contracting and construction management company. But Lee said participants in the plan like her lost out big in their retirement...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Attached Documents

Related Sections

Case Information

Case Title

Subscribers Only

Case Number

Subscribers Only

Court

Subscribers Only

Nature of Suit

Subscribers Only

Judge

Subscribers Only

Date Filed

Subscribers Only

Law Firms

Companies

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!