ADVERTISEMENT
ADVERTISEMENT
Bankers Trust To Pay $5M In Hospice Workers ESOP Suit
Law360 (January 14, 2021, 1:58 PM EST) Bankers Trust Co. of South Dakota agreed to pay more than $5 million to end a proposed class action claiming it violated the Employee Retirement Income Security Act when it let in-home care workers overpay in a $75.5 million stock transaction for their employers stock.
In a Wednesday motion for settlement approval, lead plaintiffs Shela Blackwell and Jo Ann Battieste also urged U.S. District Judge Kristi Johnson to sign off on the proposed class, whose roughly 900 members had stakes in Sta-Home Health & Hospice Inc. s employee stock ownership plan.