$8.7M Class Settlement Proposed In ERISA Case Over ESOP Transaction

Mealey's (January 27, 2023, 2:07 PM EST) -- PHILADELPHIA — Plaintiffs in a suit concerning an Employee Stock Ownership Plan (ESOP) transaction moved in Pennsylvania federal court for preliminary approval of an $8.7 million settlement in which they estimated that about 728 class members would “receive approximately $11,950 on average” before expenses and attorney fees....