North Highland ESOP Holdings

Alleged breaches of fiduciary duty and improper dilution of plan stock in the North Highland ESOP.

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. Vested participants or beneficiaries in The North Highland Co. Employee Stock Ownership Plan between Oct. 1, 2016, and May 30, 2025, may be eligible to claim a share of the settlement. Eligible class members will receive a pro rata cash payment based on the number of vested shares they held during the class period. Current ESOP participants will receive direct deposit into their plan account, while former participants will receive a check by mail or can elect a direct rollover to an IRA or qualified employer plan by...

• All vested participants and beneficiaries in The North Highland Co. ESOP from Oct. 1, 2016, to May 30, 2025, including current and former employees.