Judge Approves $22.5M Consent Order Concluding ESOP Case Against 1 Defendant

(September 7, 2023, 8:59 AM EDT) -- PHOENIX — An Arizona federal judge has approved a consent order and judgment between the U.S. Department of Labor (DOL) and the former trustee and independent fiduciary of an employee stock ownership plan (ESOP) over a purchase that was allegedly for “far more than fair market value,” with terms including a $20,454,545 settlement and a $2,045,455 penalty....