June 07, 2023
An Illinois federal judge granted initial approval Wednesday to a $14.8 million deal ending a lawsuit from ex-workers for a retail display manufacturing company alleging the company's board, its executives and the trustee of an employee stock ownership plan sold company stock to the ESOP at an inflated price.
April 21, 2023
Retail display maker Triad Manufacturing and employee stock ownership plan trustee GreatBanc agreed to a $14.8 million deal to end a lawsuit from workers claiming they were overcharged for Triad stock, teeing up an end to a court battle that the Seventh Circuit refused to kick to arbitration.
February 09, 2023
A retail display manufacturing company has agreed to settle a proposed class action filed in Illinois federal court alleging it violated federal benefits law when it sold inflated company shares to workers through their employee stock ownership plan in a $106 million deal.
January 18, 2023
Two Triad Manufacturing workers asked an Illinois federal judge to approve a class action claiming their employee stock ownership plan was overcharged in a $106 million deal, a development that comes a little over a year after the Seventh Circuit said their case could stay in court.