Overview
On May 20, 2022, Cohen Milstein filed Lloyd, et al. v. Argent Trust Company, et al., Case No. 1:22-cv-04129, United States District Court for the Southern District of New York under the Employee Retirement Income Security Act of 1974 (“ERISA”) on behalf of a putative class of participants and beneficiaries of the W BBQ Holdings, Inc. Employee Stock Ownership Plan (“ESOP”) against the ESOP trustee, Argent Trust Company (“Argent”), and the owner, Herbert Wetanson, and the controlling managers and shareholders of W BBQ Holdings (“WBBQ”).
Trial will occur in two stages: some witness testimony will be submitted in written form on January 23, 2026; and the in-court trial proceedings will begin on March 16, 2026. Any changes to this trial start date and updated information about the case will be available on this website.
Important Dates & Rulings
- On October 31, 2025, the Court granted Plaintiffs’ motion for class certification and certified: “All participants in the W BBQ Holdings, Inc. Employee Stock Ownership Plan on or after July 29, 2016 who vested in whole or in part under the terms of the ESOP, and those participants’ beneficiaries. Excluded from the class are Defendants and their immediate family members, any fiduciary of the ESOP, and any current or former officers or directors of W BBQ.”
- On January 3, 2025, the U.S. Court of Appeals for the Second Circuit granted plaintiffs’ motion for summary affirmance, vacating Argent Trust’s appeal of the lower court’s 2022 order denying it’s motion to compel arbitration.
- On January 6, 2023, Defendants answered Plaintiffs’ First Amended Complaint.
- On December 6, 2022, U.S. District Judge Denise L. Cote denied Defendant’s motion to compel arbitration, allowing Plaintiffs putative class action to move forward.
The Court has approved a notice to the class with additional information on this case. View the class notice.
Case Contact Information
Please call or email any of the attorneys below for more information about the case: