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Financial Services

Russelectric Employee Stock Ownership Plan Litigation

Bowers, et al. v. Russell, et al.
Case No. 1:22-cv-10457 (D. Mass.)

On March 25, 2022, we filed a lawsuit on behalf of participants in the Russelectric Inc. Employee Stock Ownership Plan (the “Plan”). The lawsuit alleges that the Plan’s fiduciaries and Russelectric’s former owners (the Defendants in the case) violated the Employee Retirement Income Security Act (ERISA) by acquiring stock from the Plan for less than market value, to the detriment of the Plan and its participants.

The lawsuit seeks to recover the Plan’s financial losses and other equitable relief. For a copy of the Complaint, click here.

Type of Case

ERISA Violations