North Highland ESOP ERISA Class Action Settlement

North Highland ESOP ERISA Class Action Settlement is a $2,375,000 Qualified Settlement Fund. Participants and beneficiaries who held vested North Highland ESOP Holdings shares between October 1, 2016 and May 30, 2025 are paid automatically from Plan records — there is no claim form. This is a mandatory Rule 23(b)(1) class (no opt-out). The fairness hearing is November 5, 2026; that date is not a claim deadline. Objections are due October 6, 2026. Optional Rollover Form (to an IRA or employer plan) is also due November 5, 2026.

Do I Qualify?

You may be eligible if:

• You are a participant or beneficiary of The North Highland Company Employee Stock Ownership Plan
• You held vested North Highland ESOP Holdings shares at any time between October 1, 2016 and May 30, 2025
• No claim form is required — payment is automatic from Plan records if the court grants final approval
• This is a mandatory class; you cannot opt out
• A Rollover Form is optional and only changes whether you get a check or a plan/IRA deposit

No claim form needed. Payment is automatic from Plan records if the court grants final approval. November 5, 2026 is the fairness hearing, not a claim-filing deadline. Optionally submit a Rollover Form by that same date to send the payment to an IRA or employer plan instead of a check.

What Happened?

Plaintiffs alleged ERISA breaches involving The North Highland Company Employee Stock Ownership Plan. Defendants deny wrongdoing and agreed to settle.

The settlement creates a $2.375 million Qualified Settlement Fund. Up to 33.33% ($791,666) in attorney fees plus under $25,000 in costs come out first. The rest is split pro rata by vested ESOP-share balance held during October 1, 2016 through May 30, 2025. No official per-person figure has been published.

There is no claim form. Simpluris calculates each share from Plan records and mails a check automatically if the court grants final approval. The class is mandatory (Rule 23(b)(1)); objecting by October 6, 2026 is the only way to formally disagree. The fairness hearing is November 5, 2026.

Do I Need to File a Claim?

1. NO ACTION NEEDED — payment is automatic; there is no claim form
2. November 5, 2026 is the fairness hearing, not a claim-filing deadline
3. Simpluris calculates each share from Plan records and mails a check if the court grants final approval
4. Optional Rollover Form (LoginID and PIN from the mailed notice), due November 5, 2026, sends the payment to an IRA or employer plan instead of a check
5. This is a mandatory Rule 23(b)(1) class — no opt-out. Objections are due October 6, 2026
6. Official settlement site: https://www.nhesopsettlement.com/

How Much Will I Actually Get?

$2.375 million Qualified Settlement Fund. Up to 33.33% ($791,666) in attorney fees plus under $25,000 in costs are deducted; the remaining amount is split pro rata by vested ESOP-share balance held during the class period. No official per-person figure has been published.

Last reviewed: September 7, 2026 | Information verified from court records and official settlement documents.

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