Bailey Glasser Receives Final Approval on $6.25 Million Settlement with Reliance Trust to End ERISA Class Action

08.06.2020

We are pleased to announce that Judge Amos L. Mazzant III of the US District Court for the Eastern District of Texas has given final approval of a $6.25 million settlement with Reliance Trust Company to end a class action lawsuit about the purchase of RVNB Holdings, Inc. stock by the company’s Employee Stock Ownership Plan (ESOP).

This settlement is a victory for class participants who will each receive about $3,000.

Reliance Trust Co., which is the trustee for the RVNB stock ownership plan, was sued in June 2018 when former employees of the storage and moving company, Jessica Casey and Jason Coleman, alleged it had violated its fiduciary duties under the ERISA statute by making workers overpay for shares of the company’s stock.

Bailey Glasser lawyers Gregory Porter, Ryan Jenny, Patrick Muench, and James Kauffman represented the plaintiffs in this case. Co-counsel includes Thomas R. Ajamie and John S. Edwards Jr. of Ajamie LLP.

Jump to Page

Bailey Glasser Cookie Preference Center

Your Privacy

When you visit our website, we use cookies on your browser to collect information. The information collected might relate to you, your preferences, or your device, and is mostly used to make the site work as you expect it to and to provide a more personalized web experience. For more information about how we use Cookies, please see our Privacy Policy.

Strictly Necessary Cookies

Always Active

Necessary cookies enable core functionality such as security, network management, and accessibility. These cookies may only be disabled by changing your browser settings, but this may affect how the website functions.

Functional Cookies

Always Active

Some functions of the site require remembering user choices, for example your cookie preference, or keyword search highlighting. These do not store any personal information.

Form Submissions

Always Active

When submitting your data, for example on a contact form or event registration, a cookie might be used to monitor the state of your submission across pages.

Performance Cookies

Performance cookies help us improve our website by collecting and reporting information on its usage. We access and process information from these cookies at an aggregate level.

Powered by Firmseek