RV Co. Execs Lose Bid To Exit Suit Over $105M ESOP Deal
Law360 (February 19, 2020, 4:02 PM EST) -- An Arizona federal judge has refused to let a recreational vehicle business's officers dodge the U.S. Department of Labor's suit alleging the company's workers grossly overpaid for their employer's stock in a $105 million deal, finding the agency adequately backed up its argument that the executives knew the transaction flouted federal benefits law.
U.S. District Judge John J. Tuchi on Tuesday denied a dismissal bid from RVR Inc., which does business as Cruise America, and company officers Randall Smalley, Robert Smalley Jr. and Eric Bensen. They had sought to escape claims that they failed to properly oversee the Reliance Trust Co.,...
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