Hill Brothers Settles $20M Stock Plan Lawsuit for $850K

Defunct Mississippi construction company Hill Brothers reached an $850,000 settlement with workers who accused the company of causing them nearly $20 million in lost retirement savings (Hill v. Hill Bros. Constr. Co., 2017 BL 154706, N.D. Miss., No. 3:14-cv-00213-SA-RP, order granting preliminary settlement approval 5/9/17).

The deal received preliminary approval from a federal judge May 9. It resolves allegations that Hill Brothers violated the Employee Retirement Income Security Act by failing to protect the company’s employee stock ownership plan from being wiped out when Hill Brothers ceased operations in 2013. The workers say they were told in 2012 ...