Suit Can Proceed over ESOP Releveraging

In Shipp v. Central States, No. 5:23-CV-5215 (W.D. Ark. July 5, 2024), a district court ruled the plaintiffs had pleaded sufficient arguments to deny dismissal to the defendants, Central States Manufacturing and GreatBanc Trust, over charges that a releveraging at the 100% ESOP-owned company caused the share price for affected employees to fall improperly.