Employee Class Action against Bank Trustee regarding ARCO DB Employee Stock Ownership Plan

What is the class action claim?

The Bank Trustee that established the ARCO DB ESOP allowed the ESOP (employees) to purchase all the shares of ARCO DB stock in 2019 from the seller (original owners) for allegedly more than fair market value.  As a result, ARCO DB employee shareholders are allegedly unable to sell their shares or only able to sell their shares at a subsequent loss or for far less than had the ESOP shares been purchased at fair market value.

Who can join this class action?

Any current or former ARCO DB employee who earned & are vested in shares of the ARCO DB ESOP.

Is there any cost to me?

No.  All plaintiff law firms are litigating this case on a contingency fee basis.

How can I help &/or participate?

     1. We are interested in reviewing any ARCO DB ESOP documents you may have or can download from the ARCO DB ESOP website: 

  • Summary Plan Description (SPD)
  • Annual Letters stating ESOP shares value
  • Statements – Please feel free to blackout any personal data.

Please email to mk@mk-llc.com or fax to 212-389-6112.

  1. Refer other current or former ARCO DB employees by sharing this page and or posting on social media (X, FB, LinkedIn).
  2. Join the case as a plaintiff Class Representative.

Read about Class Representative Duties.

Please feel free to email mk@mk-llc.com or call 212-389-6111 with any additional questions.

Join This Case

Submit Information

Online Retainer Instructions

  1. Please carefully read and check box "Part I -– Class Representative Duties"
  2. Please complete "Part II - Client Contact & Employment Information."
  3. Make sure all the required fields are filled out and as many of the optional fields as possible.
  4. Please carefully read & sign the Retainer Agreement
  5. Click the "Click to Sign" button to submit your signed agreement.
  6. Check for an email from "Adobe Sign" and click the "Confirm my email address" link to verify your signature and complete the process.
  7. One of our Attorneys will contact & speak with you by phone to finalize your joining this case. Please note: You must have a phone conversation with one of our Attorneys to complete your retention as a client of MKLLC LAW.