Wilson Electric Services Corp. ESOP
We are representing participants in a putative class action in Andrews v. Wilson Electric Services Corp., et al. (D. Ariz. May 1, 2024). Our client is a participant in the Wilson Electric Services Corp. ESOP. We allege that the ESOP’s fiduciaries violated their duties under ERISA by holding millions of dollars of the Plan’s assets in low-yield money market funds and short-term U.S. treasury bonds over the course of years for self-interested reasons. Had the ESOP been prudently managed and those funds properly invested, participants would have more in their accounts. We are seeking to recover these losses on behalf of ESOP participants.
Learn More
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, Mark Thomson or Carl Engstrom. You can also learn more about our ESOP practice.