A lawsuit saying PDQ Food Stores Inc. workers lost money in their stock plan when the convenience chain was sold to Kwik Trip Inc. fell flat when a federal judge dismissed claims against multiple defendants.
Judge William M. Conley rejected claims challenging a series of “side payments” made in connection with the 2017 sale, explaining that payments representing stock appreciation rights and severance payouts were owed under preexisting legal contracts.
Other challenged payments representing incentives for negotiating lease agreements had the effect of increasing the workers’ payout and thus didn’t violate the Employee Retirement Income Security Act, Conley said June ...
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