Employee Ownership Legal Digest

Stay informed on the latest legal developments impacting employee ownership with timely and concise summaries of key cases and rulings. Learn more »

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AlaTrade Foods ESOP Participants Reach $4.5 Million Settlement

Wendy Gilligan

ESOP participants Cheryl Haynes and Marcellus Garner (the “Plaintiffs”) filed a proposed class action on April 22, 2026, in the US District Court for the Northern District of Alabama against Stephen C. James, the ESOP Trustee; their former employer, AlaTrade Foods Inc., and AlaTrade Foods Holdings Inc. (collectively, the “Company”); and selling shareholders Davis Lee and Beth Lee.

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Court Dismisses ESOP Fiduciary Breach and Prohibited Transaction Claims for Failure to Plead Fiduciary Conduct

José Jara

A federal court in Illinois dismissed ERISA fiduciary breach and prohibited transaction claims brought by former executives against Meadowvale, Inc., its ESOP Committee, two company executives, and QHI, LLC, finding the complaint failed to plead that any defendant acted in a fiduciary capacity.

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Meet Our Authors

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Headshot of Alan H. Kandel

Alan H. Kandel

Alan H. Kandel is a Partner at Husch Blackwell specializing in Employee Benefits and Executive Compensation. He counsels a wide variety of clients—including ... »

Headshot of Allison Wilkerson

Allison Wilkerson

Allison is a Partner at McDermott Will & Schulte in Dallas, where she focuses her practice on employee benefits matters with extensive experience in ERISA ... »

Headshot of Christopher Wingard

Christopher Wingard

Chris is an associate in Kleinbard’s Business & Finance Practice. He advises corporations, shareholders, directors and employee stock ownership plan (ESOP) ... »

Headshot of Corey Rosen

Corey Rosen

NCEO founder and senior staff member

Headshot of David Joffe

David Joffe

David is a Partner and Chair of the Employee Benefits & Executive Compensation Practice Group at Bradley Arant Boult Cummings in Nashville. He advises ... »

Headshot of Griffin O'Gara

Griffin O'Gara

Griffin F. O'Gara is an Associate in Krieg DeVault's Employee Benefits and Executive Compensation Practice. Mr. O'Gara primarily devotes his practice to ... »

About the Legal Digest

This digest provides timely and concise recaps of key cases and rulings, contributed by experienced attorneys, to help the entire employee ownership community understand their implications, and also offers access to NCEO's archive of prior content. Every entry is written and reviewed by leading ESOP attorneys through our Attorney Working Group—ensuring you get accurate, practical insights you can trust.