August 20, 2025
Argent Trust Co. will pay $4.5 million to exit a class action alleging it approved a sale of undervalued shares in an electrical component company's employee stock ownership plan in a deal to shut the program down, according to a filing in Massachusetts federal court.
August 06, 2025
A Wells Fargo employee will pay $3 million to resolve claims against her in a class action alleging owners of an electrical component company and managers of its employee stock ownership plan undervalued the plan's shares when the program shut down, according to a filing in Massachusetts federal court.
January 31, 2025
A Massachusetts federal judge has certified a group of employees in their class action against the owners of an electrical components company and managers of its employee stock ownership plan that claims they undervalued the plan's shares when the program was shut down.
February 15, 2024
Owners of a Massachusetts electrical components company and managers of its employee stock ownership plan can't avoid a suit alleging they undervalued the plan's shares when the program shut down, after a Massachusetts federal judge found Thursday that plan participants' allegations were detailed enough to move forward.
May 04, 2023
Owners of a Massachusetts electrical components company and managers of its stock ownership plan told a federal judge they should be let out of a lawsuit filed by plan participants because the workers had no stake in unallocated shares they claim were undervalued when the company shut down the program.