Sitrick and Co. ESOP Litigation

 

Keller Rohrback represented Plaintiffs on behalf of the Sitrick And Company Employee Stock Ownership Plan (the “ESOP”) in this lawsuit in the United States District Court for the Central District of California against Michael S. Sitrick, Nancy Sitrick, the Michael and Nancy Sitrick Trust, Sitrick and Company, Inc. (the “Sitrick Defendants”), and Defendant Reliance Trust Company (“Reliance”), (collectively, Defendants”). Plaintiffs sought to recover losses that they allege were suffered by the ESOP and its participants as the result of breaches of fiduciary duty under the Employee Retirement Income Security Act of 1974 (as amended) (“ERISA”) by Defendants. On April 26, 2012, the Court approved a cash settlement of $6.25 million.

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