North Highland ESOP $2.38 Million Class Action Settlement

North Highland ESOP $2.38 Million Class Action SettlementParticipants in or beneficiaries of the North Highland ESOP between 2016 and 2025 may qualify to claim a payment from a class action settlement.North Highland ESOP $2.38 Million 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 2, 2026 2:05 PMUpdatedSeptember 2, 2026Join the DiscussionVested participants or beneficiaries in The North Highland Co. Employee Stock Ownership Plan (formerly known as The North Highland Co. Employee Stock Ownership and 401(k) Plan) between Oct. 1, 2016, and May 30, 2025, may be eligible to claim a share of a class action settlement.North Highland ESOP Holdings and related defendants agreed to pay $2,375,000 to settle a class action lawsuit alleging breaches of fiduciary duty and other violations under the Employee Retirement Income Security Act. The lawsuit claimed the company did not properly administer the plan and alleged it improperly diluted plan stock during and after a 2016 recapitalization. Who qualifies for the class action payout?Class members include all vested participants in beneficiaries in The North Highland Co. ESOP from Oct. 1, 2016, to May 30, 2025. Thus includes both current and former employees. How much is the settlement payment?Pro rata cash payment: Eligible class member 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. The settlement administrator identified approximately 3,542 class members based on plan records.How to claim a class action paymentEligible class members do not need to file a claim to receive their share of the settlement.