Employee Class Action Against Bank Trustee regarding the Choate Construction Company Employee Stock Ownership Plan

What is the class action claim?

The Bank Trustee with legal fiduciary responsibility for establishing the Choate Construction Company ESOP in January 2016, allowed the ESOP (employees) to purchase all the shares of Choate Construction Company 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.

Who can join this class action?

Any current or former Choate Construction Company employee who earned & are vested in shares of the Choate Construction Company ESOP.

Is there any cost to me?

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

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How can I help and/or participate?

  1. We are interested in reviewing documents you can download from the Choate Construction Company ESOP website:
    • Summary Plan Description (SPD)
    • Annual Letters stating ESOP shares value
    • Statements – Please feel free to blackout any personal data
  2. Please email these to confidential@mk-llc.com or fax to 212-389-6112.
  3. Refer other affected Choate Construction Company ESOP employees by sharing this page and or posting on social media (FB, LinkedIn).
  4. Join the case as a plaintiff Class Representative.

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

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