AMPAM Parks Mechanical $13.75M ESOP Class Action Settlement

AMPAM Parks Mechanical $13.75M ESOP Class Action SettlementParticipants in or beneficiaries of the AMPAM Parks ESOP on or after Aug. 6, 2023, may be eligible to claim a share of a $13.75M class action settlement.AMPAM Parks Mechanical $13.75M ESOP Class Action SettlementWeekly NewsletterClass actions settlements delivered to your inbox.Thank you! Check your inbox for a welcome email.Oops! Something went wrong while submitting the form.William C. GendronEditor in ChiefPublishedSeptember 14, 2026 4:01 PMUpdatedSeptember 14, 2026Join the DiscussionParticipants or beneficiaries in the AMPAM Parks Mechanical Inc. Employee Stock Ownership Plan (ESOP) with vested stock on or after Aug. 6, 2023, may be eligible to receive a payment from a $13.75 million award from a class action settlement.AMPAM Parks Mechanical agreed to pay $13.75 million to settle a class action lawsuit alleging violations of federal law related to the administration and management of its ESOP. The plaintiff claimed the company and other defendants breached their fiduciary duties under the Employee Retirement Income Security Act (ERISA) during certain transactions involving the sale of AMPAM stock to and from the ESOP, resulting in financial harm to plan participants and beneficiaries. Who are the class members?Class members are all participants and beneficiaries in the AMPAM Parks Mechanical ESOP who held vested AMPAM stock on or after Aug. 6, 2023. How much is the settlement payment?Pro rata cash payment: Eligible class members will receive a pro rata cash payment from the net settlement fund. The payment each class member receives depends on the number of vested shares they held during the class period compared to the total shares held by all class members. Payments are available as a check or, if elected, as a rollover to a qualified retirement account (such as a traditional or Roth IRA, 401(a), 401(k), 403(b), or governmental 457(b) plan).