Employees of Illinois-based Casino Queen Inc. received final court approval for a $7.1 million class settlement resolving litigation over the company’s employee stock ownership plan.
The agreement represents about 20% of the workers’ most conservative estimate of damages and is expected to provide an average gross recovery of about $11,000 for each of more than 600 Casino Queen stock plan participants who sold their vested stock for less than $20 per share. About 170 participants who cashed out at at a higher price will receive flat payments of $500 each, and about 340 people with no vested shares in their ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.