Employee Ownership Legal Digest
James G. Steiker

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Jim is Co-Chair of Stevens & Lee's ESOP Group and Chairman of SES ESOP Strategies, with over 35 years of experience in ESOP design, transactions, and compliance. He's a recognized expert, having served on numerous ESOP industry boards and contributed extensively to NCEO publications. Jim frequently presents on ESOP topics, including transaction structures and fiduciary processes.

James G. Steiker

July 07, 2025

Settlement Reached in B-K Lighting Valuation Lawsuit

In Chea v. Lite Star ESOP Committee, No. 1:23-cv-00647-JLT-SAB (E.D. Cal., June 10, 2025), a settlement has been reached in a valuation lawsuit at B-K Lighting. Plaintiffs alleged the shares were overvalued because of excessively optimistic forecasts and the ESOP paying for control it did not have.