A dispute over juice maker Mona Vie Inc.'s $186 million stock sale has netted a $19.8 million settlement for the employees who sued company insiders and the trustee who orchestrated the transaction (Jessop v. Larsen, D. Utah, No. 2:14-cv-00916-BSJ, motion for preliminary settlement approval filed 11/15/16).
The proposed settlement is expected to give each member of the certified class about $30,000 for their efforts in challenging a transaction—orchestrated by defendant Bankers Trust Co. in 2010—in which the class members were allegedly overcharged for Mona Vie stock through the company’s employee stock ownership plan. The lawsuit ...
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