Steel Firm Workers Get OK For $1.8M ESOP Deal, $600K Fee

By Melanie Dorsey · May 1, 2026, 5:12 PM EDT

A Michigan federal judge has approved a $1.8 million class settlement resolving claims that trustees of a steel company employee stock ownership plan overpaid for company stock, finding the deal "fair,...

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Documents

Case Information

Case Title

Bonds v. Capital Trustees, LLC et al

Case Number

2:23-cv-12045

Court

Michigan Eastern

Nature of Suit

Labor: E.R.I.S.A.

Date Filed

August 11, 2023