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ACCT Holdings

ACCT Holdings agreed to an $8.75 million class action settlement for its ESOP participants and beneficiaries due to alleged breaches of fiduciary duty.

Opening soonUnited States-wideClaim deadline: Pending court decisionEstimated payout: Up to $8,750,000Claims not open yet

About this settlement

Alleged breaches of fiduciary duty and prohibited transactions under ERISA related to the ACCT Holdings ESOP's purchase of company stock.

ACCT Holdings has agreed to a $8.75 million class action settlement to resolve allegations of breaches of fiduciary duty and prohibited transactions under ERISA concerning the ESOP's purchase of company stock. Vested participants and beneficiaries in the ACCT Holdings ESOP between December 22, 2021, and December 31, 2025, may be eligible for a share of the settlement. The settlement includes a $3 million cash fund and a $5.75 million reduction in loan balances, increasing the value of ACCT stock for active participants. Former participants who cashed out will receive an additional payment. No claim form is required for most participants; payments will be distributed automatically. Former participants wishing to elect a rollover must submit a form by June 1, 2027.

Who qualifies

  • Vested participants and beneficiaries in the ACCT Holdings ESOP from December 22, 2021, to December 31, 2025.
  • Current participants with a vested positive balance as of the distribution date.
  • Former participants who have withdrawn their plan balance before the distribution date.

Up to $8,750,000

Claim deadline: Pending court decision

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