Propane Co., ESOP Trustee Drop Hostile Takeover Suit

By Rachel Stone (July 21, 2021, 3:50 PM EDT) -- A propane supplier and an employee stock ownership plan trustee have resolved a lawsuit claiming the trustee violated federal benefits law by breaching its duty to look out for the workers' interests and trying to seize control of the company.

A Kansas federal judge signed off Tuesday on a stipulation of dismissal filed by Ferrell Companies Inc. and GreatBanc Trust Co. in which both sides agreed to end the case and shoulder their own attorney fees and costs.

Ferrell sued GreatBanc in May 2020, claiming the bank violated its fiduciary duties under the Employee Retirement Income Security Act by attempting to...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!