On August 26, 2020, the parties filed a motion for preliminary approval of a $2.4 million class action settlement in Woznicki v. Raydon Corporation, et al. Plaintiff Stephanie Woznicki alleged that the Raydon Corporation ESOP’s purchase of stock from directors and related persons for $60.5 million in September 2015 violated fiduciary rules under the Employee Retirement Income Security Act (ERISA). The Settlement Agreement is here. Plaintiff Woznicki and the Class are represented by Dan Feinberg of Feinberg, Jackson, Worthman & Wasow LLP and co-counsel Block & Leviton LLP and Burr & Smith LLP. Please contact Dan Feinberg for further information.
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