The Parties have reached a settlement in principle in this case. A settlement website will be established upon a Court order preliminarily approving the Settlement. This case page will be updated with further information as it becomes available.
80/20 ESOP
We are representing participants in a putative class action in Walther v. Wood, 1:23-cv-00294 (N.D. Ind.). Our clients are former participants in the 80/20 ESOP retirement benefit plan. We allege that the ESOP's fiduciaries violated their duties under ERISA by (1) failing to enforce the ESOP's right to buy additional shares of 80/20 stock pursuant to the company founder's will and (2) causing 80/20 to redeem the ESOP's shares for less than fair value in a deal that enriched company leadership and outside investors at the expense of the ESOP. We are seeking to recover additional benefits on behalf of ESOP participants.
Did you receive a benefit from the 80/20 ESOP?
The Parties in this case have reached a settlement and are in the process of seeking court approval of that settlement. If you received a benefit from the 80/20 ESOP and have moved since 2021, please provide an updated mailing address and contact information below so that you can stay up to date about this class action and receive your share of the settlement amount if the settlement receives final approval from the court and you are deemed to be eligible for a payment.
Note: Submitting this information does not guarantee that the settlement will be approved or that you will be entitled to a distribution from the settlement. Submitting updated contact information now will help to ensure that you receive any official court notices that may be sent out regarding the settlement, which will provide additional information about your possible payment and options for receiving it
Learn More
If you were a participant in this ESOP and wish to learn more about this case, share information, or believe you may have a claim, please email one of the lead attorneys on this case, Melissa Carrington or Carl Engstrom. You can also learn more about our ESOP practice.