ERISA Lawsuit Alleges that ESOP Fiduciaries Cheated ParticipantsChicago, ILParticipants in the West Monroe Partners Employee Stock Ownership Plan (ESOP) filed a class action ERISA lawsuit claiming that the ESOP’s fiduciaries and the Trustee shortchanged them of the value of the company’s stock when West Monroe sold half the company to an outside investor. At its most elemental, the scheme described in
Daly v. West Monroe Partners Inc. involved using participants’ retirement savings to enrich the company insiders. The details, however, suggest a careful plan carefully executed in several steps over almost a year.
Bacteria one main reason for Baby Formula ShortageSturgis, MI The Abbott plant, which had produced one-fourth of the nation’s infant formula, was shut down in February after “egregiously unsanitary” conditions were discovered at its Michigan plant – conditions that included bacteria inhabiting key production equipment.
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