ISCO Employee Stock Ownership Plan Lawsuit Gets Class Treatment

ISCO Industries Inc. workers challenging a forced stock buyback in their employee stock ownership plan secured a court order certifying their case as a class action covering more than 400 people.

The class covers all the ESOP’s participants and beneficiaries at the time of the disputed stock buyback. Judge Rebecca Grady Jennings of the US District Court for the Western District of Kentucky signed the class certification order Monday, noting the ISCO defendants didn’t oppose the move.

• The lawsuit challenges a 2018 transaction in which the ISCO plan was terminated through a $96.6 million stock sale to the company’s top ...