New York Times Article on U.S. Sugar ESOP Creates Controversy

The New York Times (May 29, 2008) ran a detailed front-page look at a lawsuit by workers at U.S. Sugar. Former employees claim they were underpaid for their shares because the company had undisclosed offers from outside buyers (offers not accepted by the company) at substantially higher prices (Sugar Workers, Given Shares, Wonder Why Price Is So Low). The article paints a distinctly negative picture of the plan. The situation is more complex than it appears, however, as discussed elsewhere on this site.