Cohen Milstein Sellers & Toll PLLC is investigating Triad Manufacturing for its ESOP’s initial purchase of the company’s stock from the shareholders for an inflated value, causing a multi-million-dollar loss to the ESOP.
The Triad Manufacturing ESOP was formed on December 17, 2015, when Triad’s employees purchased it for $106 million, all in borrowed funds. By year end, the reported value of the stocks had dropped to only $3.38 million—meaning that the ESOP had lost over $102 million its first year. By the end of 2016, the stock had lost another $1.2 million. It is now worth only $2.1 million.
If you are a current or former employee of Triad and are or have been vested in the Triad Manufacturing ESOP, you may be affected by Cohen Milstein’s investigation.
If you are interested in learning more about this investigation or about how you may be affected, please take a moment to fill out the questionnaire below and we will contact you within two to three business days to schedule a phone call with one of our attorneys.
Dirk Hamel, Paralegal - 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