Long-running Casino Queen ESOP case reaches settlement

In Hensiek v. Bd. of Dirs. of Casino Queen Holding Co., 20-cv-377-DWD (S.D. Ill. Sept. 6, 2024), a settlement was reached in the long-running case over the bankruptcy of Casino Queen, which had been a 100% ESOP. Plaintiffs alleged the ESOP’s 2012 purchase of the company for $170 million was based on excessively optimistic projections.

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