Welcome to the Settlement Homepage

• A Settlement has been reached in a class action lawsuit with respect to the Electric Supply Employee Stock Ownership Plan (the “Plan”). The class action lawsuit involves whether the Plan, which terminated in 2021, had been administered by Defendants George M. Adams Jr., Sandra Brock, Shaker Brock, Kelly A. Pound, and Harold Irwin (collectively, “Defendants”) in accordance with certain provisions of the Employee Retirement Income Security Act of 1974 (“ERISA”). ERISA is the federal law that regulates and sets minimum standards for the administration of most retirement plans in the private sector, including the Plan. Defendants deny all claims, and nothing in the Settlement is an admission or concession on Defendants’ part of any fault or liability whatsoever.
• The Settlement will provide, among other things, for a $1.1 million Settlement Fund that will be allocated to eligible Settlement Class Members after any Court-approved deductions for Attorneys’ Fees and Costs, Administrative Expenses, and General Release Compensation. Settlement Class Members will receive their settlement payment in the form of a check, or in the form of a tax-qualified rollover to an individual retirement account or other eligible employer plan if they elect a rollover.

This website is provided as a service to eligible settlement participants. The information provided is in summary form and is not intended as a complete explanation of your rights. For full and complete information, you are directed to review carefully the Notice of Proposed Class Action Settlement.