Cohen Milstein Sellers & Toll PLLC is investigating the AMPAM Parks Mechanical Employee Stock Ownership Plan (ESOP) regarding a potential multi-million-dollar loss to the ESOP and the retirement savings of employees.
In 2019, AMPAM’s owners sold 100% of the company to its employees through the ESOP. Based on publicly available documents that AMPAM filed with the Department of Labor, the ESOP paid $247 million for the company, but by the end of the same year the company was worth less than 10% of the purchase price.
If you participated in the AMPAM ESOP, your retirement savings may have been affected by the ESOP transaction and any losses resulting from the transaction.
For More Information
If you would like to learn more about our investigation, please take a moment to fill out our questionnaire and we will schedule a phone call with one of our attorneys.
The attorneys investigating this matter are Michelle Yau (admitted in MA and DC), Ryan Wheeler (admitted in CA and DC), and Kai Richter (admitted in MN). Read the article “Is My ESOP Account at Risk?” on The Cohen Milstein Benefits Blog.
Please feel free to contact us with any additional questions.
Doron Hadar – firstname.lastname@example.org
Cohen Milstein Sellers & Toll PLLC
1100 New York Avenue, N.W.
Suite 500, West Tower
Washington, D.C. 20005
Tel: (888) 240-0775 or (202) 408-4600
Fax: (202) 408-4699