Overview
This lawsuit, Burnett v. Prudent Fiduciary Services, LLC, et al., is brought on behalf of participants and beneficiaries of the Western Global Airlines Employee Stock Ownership Plan (“ESOP”). The lawsuit alleges that violations of the Employee Retirement Income Security Act (“ERISA”) occurred in connection with the partial sale of Western Global Airlines, Inc. (“Western Global” or the “Company”) to the ESOP. This lawsuit seeks various forms of relief.
Class Action
The lawsuit is brought on behalf of all participants in and beneficiaries of the Western Global Airlines, Inc. Employee Stock Ownership Plan from October 2020, or any time thereafter who vested under the terms of the ESOP.
Status of the Litigation
Plaintiffs David Burnett, Michael Paradise, and David Nelson filed their Complaint, Burnett v. Prudent Fiduciary Services, LLC, et al., on February 28, 2022, in the U.S. District Court for the District of Delaware. Defendants filed a Motion to Compel Arbitration and to Stay Pursuant to Sections 3 and 4 of the Federal Arbitration Act, or, in the Alternative, to Dismiss, on April 29, 2022. Plaintiffs filed their Opposition on June 13, 2022. Defendants submitted their Reply Brief on July 11, 2022. On March 8, 2023, U.S. District Judge Richard G. Andrews adopted U.S. Magistrate Judge Jennifer L. Hall’s Jan. 25 recommendation to deny the Motion.
Cohen Milstein is working with Stris & Maher LLP and Nichols Kaster, PLLP in this action.
Whom to Contact for More Information
For additional information please contact:
Eleanor E. Frisch, Esq. – efrisch@cohenmilstein.com
Doron Hadar, Paralegal – dhadar@cohenmilstein.com