Participants in All My Sons Moving & Storage’s employee stock ownership plan announced a $14 million class settlement in their lawsuit saying they got a bad deal when the plan was terminated.
The settlement will be funded by a $7 million payment from defendant Neil Brozen, who served as stock plan trustee for RVNB Holdings Inc., which formerly owned All My Sons. Another $7 million payment is required from the other settling defendants, which include certain RVNB board members and selling shareholders and the private equity group that acquired the company in 2017.
About $1.27 million of the settlement amount ...
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