Western Global Pilots Cleared for $14.5 Million Stock Plan Deal

Pilots for Western Global Airlines LLC finalized a pair of class settlements worth $14.5 million, resolving claims that they were forced to overpay for their stake in the company through its employee stock ownership plan.

One agreement requires former Western Global shareholders to pay $7.5 million, while the other requires plan trustee Prudent Fiduciary Services LLC and its founder to pay $7 million. About 353 people covered by Western Global’s ESOP are slated to receive average gross recoveries of more than $41,000 each, according to court filings.

Judge Richard G. Andrews of the US District Court for the District ...