On April 26, 2016, U.S. District Judge Sandra F. Feuerstein granted class certification to more than 300 former employees of Atrium Management Services, Inc. in the case of Kindle v. Dejana, No. 2:14-cv-00678 (E.D.N.Y.). The plaintiff, a participant in Atrium’s employee stock ownership plan (ESOP), contends that Atrium’s $4 million sale of its stock to President and CEO Peter Dejana, overseen by John Sipala, shorted them on the fair market value of their stock and that all defendants engaged in a prohibited transaction in violation of the Employee Retirement Income Security Act (ERISA). Following the Court’s ruling, this case can now proceed as a class action to seek recovery on behalf of all class members. The class members are represented by Dan Feinberg of Feinberg, Jackson, Worthman & Wasow LLP and Aaron Siri of Siri & Glimstad LLP.
Read more here. For additional information contact Dan Feinberg.