We are representing participants in a putative class action in Bowers, et al. v. Russell, et al. (D. Mass. March 25, 2022). We allege that after the founder of Russelectric died, his heirs orchestrated an unlawful buyback of the company from the ESOP. In doing so, the family paid significantly less than fair market value, depriving the ESOP’s participants of tens of millions of dollars in retirement benefits. Our lawsuit seeks to recover those lost benefits.

Russelectric Inc. ESOP

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If you were a participant in this ESOP and wish to learn more about this case, share information, or believe you may have a claim, please email one of the lead attorneys on this case, Carl Engstrom or Charlie Gokey. You can also learn more about our ESOP practice.