September 29, 2025
A North Carolina industrial refrigeration company defeated a lawsuit claiming family operators undervalued the company to the detriment of employee stock ownership plan participants, with a federal judge ruling Monday that a former executive filed suit too long after he discovered the alleged mismanagement.
February 07, 2024
An industrial refrigeration company can't avoid a former executive's suit alleging it mismanaged an employee stock ownership plan by grossly undervaluing the business, after a North Carolina federal judge ruled he could still sue on behalf of the plan even if he's no longer a trustee.
October 03, 2023
An industrial refrigeration company told a North Carolina federal court that a former employee stock plan trustee, suing with allegations that company officials have devalued the business by tens of millions, has no authority to bring claims on behalf of the plan because he was removed from his position.
August 21, 2023
An industrial refrigeration company on Monday urged a North Carolina federal court to dismiss a former executive's complaint alleging that the family operators have devalued the company by tens of millions of dollars, arguing that he has no standing to sue since he no longer works for the company.