07 Jun MacTaggert, Scott v. Professional Fiduciary Services LLC et al
Plaintiff filed this case in July of 2022, alleging that Defendants Professional Fiduciary Services, LLC and its president John Michael Maier (together, the “Trustee”), the trustee for the Extreme Engineering Solutions, Inc. Employee Stock Ownership Plan (the “Plan”), as well as selling shareholders, participated in a prohibited stock transaction when the Plan acquired Extreme Engineering Solutions, Inc. shares in 2019. Plaintiff alleges that the trustee breached their fiduciary duty under the Employee Retirement Income Act of 1974 (“ERISA”) and brought about losses to the Plan and its participants when the trustee caused the Plan to buy shares of Extreme Engineering for more than fair market value.
Proposed Class: Certain vested participants in the Plan and beneficiaries of such participants as of the date of the January 2019 ESOP Transaction or any time thereafter
Status: Defendants Motions to Dismiss on September 9, 2022 and the case is currently in active litigation
Attach:
- COMPLAINT
- PROFESSIONAL FIDUCIARY SERVICES AND JOHN MAIER MOTION TO DISMISS
- SCIDMORE AND FARNUM MOTION TO DISMISS
- BRIEF IN OPPOSITION TO SCIDMORE AND FARNUM MOTION TO DISMISS
- BRIEF IN OPPOSITION TO PROFESSIONAL FIDUCIARY SERVICES AND JOHN MAIER MOTION TO DISMISS
- REPLY IN SUPPORT OF PROFESSIONAL FIDUCIARY SERVICES AND JOHN MAIER MOTION TO DISMISS
- REPLY IN SUPPORT OF SCIDMORE AND FARNUM MOTION TO DISMISS
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