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CASES

Piggly Wiggly ESOP Class Action

Spires v. SchoolsCase No. 2:16-cv-00616
United States District Court for the District of South Carolina

Settlement Status

On September 5, 2018, the Court entered Final Judgment and Approving Class Action Settlement in this matter. Class Counsel has arranged for the administration of the Settlement in accordance with the terms and conditions of the Plan of Allocation that was approved by the Court as part of its final order.

For additional information about the Piggly Wiggly ESOP Litigation, please visit the following website that is being maintained by Plaintiffs’ counsel: www.wychesettlements.com/pig. You can also call 1-800-326-2547 toll-free (normal office hours are 8:30 a.m. - 5:30 p.m. Eastern Time) Monday - Friday or email [email protected] with questions. DO NOT CALL THE COURT OR THE COMPANY as they cannot answer your questions.

That website will be updated as the settlement progresses.

Case Overview

Keller Rohrback and co-counsel represented participants and beneficiaries in the Piggly Wiggly ESOP. The complaint alleged that Defendants breached their fiduciary duties by doing nothing as the value of the Piggly Wiggly stock plummeted by nearly 90%. A settlement providing a payment of between $7.675 million and $8.65 million was approved by Judge Richard Gerge.

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