Pilots for Western Global Airlines LLC negotiated a class settlement worth $14.5 million in their lawsuit saying they were forced to overpay for their stake in the company through its employee stock ownership plan.
The pilots on Sept. 20 sought court approval for a pair of settlements they say will give about 353 people covered by Western Global’s ESOP an average gross recovery of more than $41,000 each. This is an “excellent” result compared to other class action settlements in cases involving ESOP stock purchases, they said in the filing.
One of the settlements requires former Western Global shareholders to ...
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