Labor Dept. Recovers $6.3M for Employee Stock Ownership Plan Participants After Investigation Finds Manipulation of Company Share Value
December 20, 2022
December 20, 2022
BOSTON, Massachusetts, Dec. 20 -- The U.S. Department of Labor Employee Benefits Security Administration issued the following news release:
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Maine Oxy-Acetylene Supply Co., company leaders, plan trustee face $630K penalty
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The U.S. Department of Labor has reached a settlement agreement with the fiduciaries of an Auburn, Maine, employee stock ownership plan to recover $6.3 million for the plan's participants and resolve alleged vi . . .
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Maine Oxy-Acetylene Supply Co., company leaders, plan trustee face $630K penalty
* * *
The U.S. Department of Labor has reached a settlement agreement with the fiduciaries of an Auburn, Maine, employee stock ownership plan to recover $6.3 million for the plan's participants and resolve alleged vi . . .