West Monroe Partners Employee Stock Buyback Suit Moves Forward

A former West Monroe Partners Inc. employee advanced the bulk of his lawsuit claiming the Chicago-based consulting firm forced workers to sell the company their stock at a depressed price so it could resell those shares for significantly more money.

The proposed class action challenges a 2021 stock buyback in which West Monroe employees were allegedly cashed out of their employee stock ownership plan for about $515 per share. Within weeks of this buyback, the firm announced it had sold 50% of its shares to third-party investor MSD Partners LP in a $2.5 billion transaction that valued the shares several ...