Allen v. GreatBanc Trust Co.

Allen v. GreatBanc Trust Co. ─ The U.S. Court of Appeals for the Seventh Circuit released in 2016 a published opinion siding with ESOP participants represented by Bailey & Glasser and defining important standards for complaints in ESOP cases. The litigation continues in district court, where the team seeks to recover losses following the Personal-Touch Employee Stock Ownership Plan’s purchase of overvalued private stock.