KPC Healthcare Stock Plan Row Poised for Confidential Settlement

A lawsuit challenging KPC Healthcare Holdings Inc.'s 2021 sale away from its employee stock ownership plan has settled, a former KPC employee told a California federal judge.

KPC’s stock plan committee reached a binding agreement to resolve the case through a “confidential settlement,” the former employee said in a Monday court filing asking that the case be paused for 60 days. The parties plan to finalize the deal in the next two weeks and then file paperwork to have the case dismissed, according to the filing.

The employee, Sandra Truong, said she’s also discussed a settlement with defendant Alerus Financial ...