Other defendants includes trusts into and out of which the proceeds of the sale of employer stock have been paid, as well as the family owners of ISCO Industries Inc. The complaint says the company had experienced a similar trend in 2006 and 2007 in the wake of Hurricane Katrina.“As a result, Jimmy Kirchdorfer accelerated the plot to take ISCO’s stock back from the ESOP, including by expressing his views that the ESOP was inconsistent with the company’s business circumstances and pressuring plan participants to write out short narratives for him to the effect that they disliked the ESOP and did not value ownership of ISCO stock through the plan, for use in his strategy to terminate the ESOP,” the complaint states.The complaint then alleges that, in October 2017, ISCO executives gathered in person in Louisville to finalize financial forecasts for 2018.

The incorporation date of this company is on 31st January 2013 and its headquarters can be found at 100 WITHERSPOON STREET 2WEST, LOUISVILLE, KY, 40202.

United States Contact Us; About Us. “Fully anticipating that the true forecasts would come to fruition, the Kirchdorfer defendants became the owners of ISCO’s stock on February 14, 2018, so that they, and not the plan participants, could enjoy those record-breaking financial results.”The complaint concludes its technical fiduciary breach and prohibited transaction allegations by calling on the court to issue various remedies including re-establishment of the ESOP, monetary compensation and the installment of an independent trustee.In response to a request for comment about the litigation, David Haick, ISCO general counsel, provided the following: “ISCO is aware of this complaint which was filed by three former employees of the company.

ISCO Industries is a global customized piping solutions provider based in Louisville, KY. ISCO stocks and sells a wide variety of piping materials and provides solutions for various environmental, geothermal, golf, industrial, landfill, mining, municipal, nuclear, waterworks and culvert-lining applications worldwide.

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.ISCO Industries, Inc. provides pipes and pipe fittings. If you have any questions, just give us a call, email, or come by and see us. Home; Steel. For informational purposes, feel free to explore this website to learn more about the types of material we keep in stock.

ISCO Industries Inc., a global customized piping solutions provider based in Louisville, Kentucky, is the most recognizable of the defendants. Typically, polyethylene pipe and fittings are connected by means of butt fusion, which is done by using a fusion machine that holds the pipe &/or fitting in a stationary position. ISCO | Complete International Stem Cell Corp. stock news by MarketWatch. The various trust defendants all are structured for the benefit of the Kirchdorfer family and were among the purchasers of ISCO stock in the buyback transaction described further below. ISCO Industries Inc., a global customized piping solutions provider based in Louisville, Kentucky, is the most recognizable of the defendants.

The lawsuit is directly tied into another in which Wilmington Trust agreed in January to a settlement valued at $5 million.A new Employee Retirement Income Security Act (ERISA) lawsuit has been filed in the U.S. District Court for the Western District of Kentucky, Louisville Division, naming a laundry list of defendants that includes various trusts, individuals and corporate entities.ISCO Industries Inc., a global customized piping solutions provider based in Louisville, Kentucky, is the most recognizable of the defendants.

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Other defendants includes trusts into and out of which the proceeds of the sale of employer stock have been paid, as well as the family owners of ISCO Industries Inc.

The settlement (Swain v.Wilmington Tr., NA, D. Del.,No. The allegations and claims made by these plaintiffs have absolutely no merit in law or fact, and ISCO intends to vigorously defend itself in the matter.”

The plan administrator of the ISCO ESOP was a committee appointed by ISCO’s board of directors, which at all relevant times was controlled by Jimmy and Mark Kirchdorfer.

Drop us a line! On the eve of Christmas Eve, the parties in a suit involving employer stock struck a deal.

By using this site you agree to the ISCO has hundreds of reliable, easy-to-operate McElroy machines for rent, and for sale. For their part, the plaintiffs were all participants in the ISCO Industries Inc. ESOP. We love our customers, so feel free to visit during normal business hours.

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