RVNB Holdings Stock Plan’s $14 Million Settlement Clears Hurdle

Participants in All My Sons Moving & Storage’s employee stock ownership plan received initial court approval for a $14 million settlement in their lawsuit saying they got a bad deal when the plan was terminated.

The deal 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, according to a settlement ...