Carey Danis & Lowe Investigating Underpayment for Stock in Employee Stock Ownership Programs
Carey Danis & Lowe is currently conducting an investigation into the administration of certain Employee Stock Ownership Plans, or ESOPs in the State of Illinois and around the country. ESOPs are programs where employees of a company are provided company stock in connection with their employment, usually as a company-provided benefit or as a component of an employee’s compensation package.
Upon leaving the company, employees who participate in an ESOP plan are generally provided with the opportunity, or even required, to cash out whatever company stock they may have. We have been made aware of circumstances where an employee cashing out his or her ESOP stock may have been uncompensated, and are investigating whether those former employees are entitled to compensation.