Ex-North Highland Workers Keep Narrowed Stock Plan Suit in Court

Former workers of North Highland Co. can proceed in court with some claims in their lawsuit over an employee stock ownership plan transaction that allegedly diluted their stake in the company, a federal judge said.

The plan’s arbitration agreement isn’t enforceable because it includes a class action waiver that prohibits recovery of certain forms of relief that the Employee Retirement Income Security Act makes available, Judge Steven D. Grimberg of the US District Court for the Northern District of Georgia held Monday. But, the workers’ claims for prohibited transactions and fiduciary breaches related to the company reorganization are timed barred ...