Godfrey et al v. Greatbanc Trust Company et al
Case Number:
1:18-cv-07918
Court:
Nature of Suit:
Multi Party Litigation:
Class Action
Judge:
Firms
Companies
Sectors & Industries:
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October 05, 2022
Homebuilder Ends ERISA Stock Sale Suit With $16.5M Deal
An Illinois federal judge approved a $16.5 million settlement ending a lawsuit that accused a homebuilding conglomerate's executives of buying company shares from an employee stock ownership plan for less than they were worth, after finding in May that the deal was short on information.
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May 24, 2022
$16.5M GreatBanc ESOP Deal Needs More Payout Details
An Illinois federal judge said Tuesday that he'll bless a $16.5 million deal over a Missouri-based homebuilder's allegedly mishandled employee stock ownership plan as long as the parties beef up their notice with more details about how much settling class members can expect to be paid.
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May 17, 2022
GreatBanc, Homebuilder Strike $16.5M Deal To End ESOP Suit
A Missouri-based homebuilder and employee stock ownership plan trustee GreatBanc Trust have struck a $16.5 million deal to end a class action from ex-workers who said the homebuilder raided the plan to line the pockets of two executives.
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February 22, 2021
Homebuilder Workers Land Cert. In GreatBanc ESOP Suit
An Illinois federal judge granted class certification Sunday to 171 former McBride & Son Homes employees in their suit alleging GreatBanc Trust helped two executives drain assets from the homebuilder's employee stock ownership plan, saying he was unpersuaded by the company's argument that the class is unworkable.
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October 08, 2020
Homebuilder Fights Employees' Class Cert. Bid In ESOP Suit
A homebuilder asked an Illinois federal judge Wednesday not to certify a class in a suit alleging GreatBanc Trust helped two executives drain assets from the homebuilder's employee stock ownership plan, saying the proposed class definition "sweeps in" participants who may not have held stock at the time of the challenged acts.
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September 17, 2020
Ex-Homebuilder Employees Seek Class Status In ESOP Suit
Three former employees of a Missouri-based homebuilder have asked an Illinois federal court to certify a class in a long-running lawsuit alleging trustee firm GreatBanc Trust helped two executives drain assets from the homebuilder's employee stock ownership plan.
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September 27, 2019
Homebuilder Workers' Suit Over Stock Sale Is Pared Down
An Illinois federal judge has narrowed an Employee Retirement Income Security Act suit brought by former workers at Missouri-based homebuilder McBride & Son who claim their employee stock ownership plan was forced to sell off its shares too cheaply.
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February 06, 2019
Homebuilder Says Stock Plan Deals Didn't Hurt Employees
A Missouri-based homebuilder has urged an Illinois federal judge to toss a proposed Employee Retirement Income Security Act class action over two transactions involving its employee stock ownership plan, arguing that the plan participants leading the suit weren't affected by the deals.
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December 03, 2018
GreatBanc, Homebuilder Sued Over Employee Stock Deals
GreatBanc Trust Co. and a Missouri-based homebuilder have been hit with a proposed class action in Illinois federal court accusing them of flouting the Employee Retirement Income Security Act by engaging in two prohibited transactions involving the homebuilder's employee stock ownership plan.