Former employees of the Dallas BBQ restaurant chain negotiated a class settlement valued at $22.5 million in their lawsuit challenging Argent Trust Co.‘s handling of their employee stock ownership plan.
The proposed deal includes a $10 million cash payment and reductions to the amounts owed to selling shareholders of WBBQ Holdings Inc. This reflects an average gross recovery of about $15,000 for each of about 1,500 class members, according to an April 17 motion seeking preliminary approval from US District Court for the Southern District of New York Judge Denise L. Cote.
- The lawsuit claims participants in the ...
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