Law360 (December 6, 2018, 8:55 PM EST) -- Raydon Corp. and two of its executives were hit with a proposed Employee Retirement Income Security Act class action in Florida federal court Thursday, alleging that they wrongly let an employee stock ownership plan purchase all of the government contractor's stock for the inflated price of $60.5 million.
Stephanie Woznicki, a participant in the plan, said in her complaint that CEO Donald K. Ariel and COO David P. Donovan failed to disclose material information to an employee stock ownership plan's trustee when they sold the Raydon shares to the plan in September 2015. Additionally, the trustee, Lubbock National Bank, failed to do its proper...
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!