Former North Highland Co. employees negotiated a $2.375 million class settlement aimed at resolving litigation over an employee stock ownership plan transaction that allegedly diluted their stake in the consulting services company.
The agreement is slated to benefit all participants with vested shares in the North Highland ESOP between October 2016 and May 2025—a time when the plan covered more than 1,500 people. It represents about 8% of the potential damages for the employees’ “most valuable remaining claim,” they said in an Oct. 17 motion seeking approval for the deal.
- The lawsuit, filed in the US District Court for the ...
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.