Complaint
On March 10, 2017 the first Complaint was filed against Wilmington Trust N.A., the legal fiduciary with responsibility for establishing the Martin Resource Management Corp. ESOP in 2012 & 2013, alleging it allowed the ESOP (employees) to purchase all the shares of Martin Resource Management Corp. stock from the seller (original owners) for allegedly more than fair market value. As a result, employee shareholders are allegedly 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. Read the Complaint here.
Class Legal Team
Greg Porter of Bailey Glasser LLP; Daniel Feinberg of Feinberg, Jackson, Worthman & Wasow LLP and Major Khan of MKLLC Law.
Recent status
On November 2, 2017 Plaintiffs (employee participants) filed another Amended Complaint. Since then the parties have engaged in extensive discovery which is scheduled to end April 15, 2019. The case is currently set for trial on December 9, 2019.
Who can join this class action?
Any current or former Martin Resource Management Corp. employee who earned & is vested in shares of the Martin Resource Management Corp. Employee Stock Ownership Plan.
Is there any cost to me?
No. All plaintiff attorneys are litigating this case on a contingency fee basis.
How can I help and/or participate?
- We are interested in reviewing documents you can download from the Martin Resource Management Corp. ESOP website:
- Summary Plan Description (SPD)
- Annual Letters stating ESOP shares value
- Statements – Please feel free to blackout any personal data
Please email these to mk@mk-llc.com or fax to 212-389-6112.
- Refer other affected Martin Resource Management Corp. employees by sharing this page and or posting on social media (FB, LinkedIn).
- Join the case as a plaintiff Class Representative.
Read about Class Representative Duties and Financial Awards.
Please feel free to email mk@mk-llc.com or call 212-389-6111 with any additional questions.