United Bank Corp. received initial court approval for a $2 million class settlement with former workers who said they were wrongly forced to sell the company stock they held in their employee stock ownership plan.
The agreement is slated to provide average gross payments of nearly $27,000 to about 74 participants in the United Bank ESOP who had their shares liquidated in 2021. It represents 43% of their maximum potential damages on their class claims.
- Judge Marc T. Treadwell granted preliminary approval to the deal and scheduled a March 26, 2026, fairness hearing in an order issued Nov. 7 in ...