Chris Wingard, an Associate in Kleinbard’s Business & Finance Practice, authored a post on a Washington federal court’s preliminary decision to approve a class action settlement resolving claims that BNBuilders, Inc. ESOP overpaid for BNBuilders, Inc.’s stock in a 2021 ESOP transaction for the National Center for Employee Ownership (NCEO)’s Employee Ownership Legal Digest. The lawsuit, filed in 2025, named the company, directors, former shareholders, the ESOP trustee, and other insiders as defendants. The settlement would provide more than 600 participants with average recoveries of approximately $7,500 each. If the plaintiffs move for final approval, a fairness hearing will be scheduled in December, after which the court will decide whether to approve the settlement.
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