Flat Rock Metal and Bar Employee Stock Ownership Plan (ESOP) Settlement
Flat Rock Metal and Bar Employee Stock Ownership Plan (ESOP) Settlement
Flat Rock Metal has agreed to a $1.8 million settlement to resolve claims alleging issues with the Employee Stock Ownership Plan's stock transaction in November 2020. Participants who do not have an active ESOP account and are not in pay status must submit an Election Notice Form to receive their share by check or as a rollover to a qualified retirement plan.
Claim Value:
Varies
Total Eligible:
Est 702 members
Overview
Flat Rock Metal and Bar Processing has agreed to pay $1.8 million to setle claims that a November 24, 2020 stock transaction negatively affected participants in the Employee Stock Ownership Plan (ESOP), in violation of the Employee Retirement Income Security Act (ERISA). The settlement provides cash payments to eligible plan participants and their beneficiaries. Participants with an active ESOP account will receive their share automatically deposited to their account. Class members who do not have an active ESOP account and are not in pay status, must complete the Election Notice Form to receive your payment by check or as a direct rollover to another retirement plan.
Eligibility
You may be eligible if you participated in the Employee Stock Ownership Plan (ESOP) (or are a beneficiary of someone who did) on November 24, 2020 ESOP or later
You were a Flat Rock Metal and Bar Procssing ESOP Plan participant (or their beneficiaries) as of Nov 24, 2020 or later
No action necessary if you received notice of the settlement and you have an active ESOP account
Complete a Settlement Payment Election Form if you do NOT have an active ESOP account and you are NOT in pay status
You do not have to be a vested member of the ESOP to be eligible
Submit Your Election Form by March 17, 2026 if you do not have an active ESOP account
Active ESOP account holders will receive payments automatically
Frequently Asked Questions
Our mission is to help people get the compensation they deserve. We are providing this information and a direct link to the official site to ensure you don't miss out on money you may be owed. However, this will mean that claims submitted for this settlement will not be reviewed, monitored, or have additional support from ClaimsHero.
No. For this claim, we are directing you to the official claims administrator website. There are no fees from ClaimsHero. This is different from our full-service representation campaigns, where we work on a contingency basis, review and monitor the status of your claim, and only get paid if your claim is successful.
Our goal is to raise awareness and guide you to the official claims website. We do not review your claim, handle your documents, monitor the status of your claim, contact you if there are any needed revisions or updates, or represent you in this specific matter. Our goal is to ensure you are provided a path to make your claim.
You must file your claim directly on the official settlement website, which is managed by the court-appointed claims administrator. The only place to submit your claim is through the link provided above.
All questions about your claim must be directed to the claims administrator. Because we simply provide a path to the claims administrator’s website to submit, our support team does not have access to your submission details. You can find their contact information on the official website through the link provided above.
If you have more questions, please visit the official website of this settlement and contact the claims administrator.
