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West Monroe Partners Sued Over Employee Stock Plan Cash Out

Dec. 22, 2021, 8:37 PM

A former West Monroe Partners Inc. employee says the Chicago-based consulting firm forced workers to sell company stock at a depressed price so it could resell the stock for five times as much, according to a federal lawsuit filed Wednesday.

The proposed class action, filed by Matthew Daly in the U.S. District Court for the Northern District of Illinois, challenges a 2021 stock buyback in which he says West Monroe employees were cashed out of their employee stock ownership plan for about $515 per share. Within weeks of this buyback, West Monroe announced it had sold 50% of its shares ...