Workers Say Ex-Ill. Casino Board Must Face $170M Stock Suit

Law360 (October 9, 2020, 7:59 PM EDT) -- Former employees of an Illinois casino's holding company hit back Thursday at board members' bid to dismiss their proposed class action over an allegedly overpriced stock purchase deal and send them to arbitration, saying they had failed to show there is a valid agreement to arbitrate.

Timothy Rand, James Koman and Charles Bidwell III, who formerly served on the board of Casino Queen's parent company, CQ Holding Co. Inc., argued in August that the court should dismiss accusations that participants in the casino's employee stock ownership plan were cheated out of millions of dollars in a $170 million deal for the parent...

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