Court Orders $540,000 to be Restored to ESOP in Case Where Seller Acted as Trustee

In Walsh v. Robert N. Preston, TPP Holdings, No. 1:14-cv-04122-ELR (N.D. Ga., Sept. 20, 2022), a court ordered TPP Holdings and former owner Robert Preston to restore $540,000 to the ESOP over an alleged overvaluation of shares the plan bought in 2006 and 2008, as well as other violations.

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