October 17, 2025
A California federal judge gave the initial OK to a $2.25 million settlement that aims to shutter a former lighting company worker's class action claiming the business mismanaged a $25 million asset ownership sale that established its employee stock ownership plan.
June 11, 2025
A California-based lighting company and the managers of its employee stock ownership plan agreed to resolve a proposed class action claiming they mismanaged the $25 million sale of company stock that established the plan, according to a filing in federal court.
October 01, 2024
A California federal judge refused to toss an ex-worker's federal benefits lawsuit alleging a lighting company's employee stock ownership plan was mismanaged in a $25 million sale of company stock, finding allegations could proceed to discovery that individuals behind the deal breached their fiduciary duty to the ESOP.