(Monavie Matter) Jessop v. Larsen
Jessop v. Larsen ─ In 2016 Bailey & Glasser negotiated a settlement under which the former top officers and owners of once-high flying nutritional juice company MonaVie, and plan trustee Bankers Trust Co. of South Dakota, agreed to pay $19.8 million to settle a lawsuit over an employee stock program that lost nearly all of its value within about two years. Bankers Trust also agreed to a permanent injunction barring it from serving as an ESOP trustee. Notably, we recovered well more than the available insurance coverage from the defendants.
Notice: On July 31, 2018, the Independent Fiduciary has mailed 398 checks totaling $15,789, 602.30 to the participants of the Mona Vie, Inc., ESOP