Five ESOP deadlines fall before year-end 2026, from November 5 to December 16. An ESOP, an employee stock ownership plan, holds company stock for workers, and these cases allege managers mishandled those plans under federal benefits law.
Some payments will go automatically to eligible participants. Other dates require action to object or elect a payment form. Check your plan name and dates below to see which deadline applies.
Official resources:
- Read the official notice from Cohenmilstein — Use this primary source to verify the official announcement.
- Read the official notice from Openclassactions — Use this primary source to verify the official announcement.
Table of Contents
- What happens in November?
- What happens in December?
- Who qualifies and how large are the funds?
- Do you need to file anything?
What happens in November?
The Howell v. Argent class notice states the North Highland fund holds $2.375 million for vested holders from October 1, 2016 to May 30, 2025, with a fairness hearing November 5, 2026 class notice summary. Payments issue only after final approval and appeals. Do not expect money before the judge rules and any appeal ends. OpenClassActions explains that AMPAM participants vested on or after August 6, 2023 and beneficiaries will be paid automatically pro-rata with no claim form settlement breakdown. Objections and optional rollover forms are due November 12, 2026.
Miss that date and you accept the default cash payment. The Bowers v. Russell class notice sets the four Russelectric settlements at $14.55 million total for eligible members. The fairness hearing before Judge Patti B. Saris is November 16, 2026 at 2:30 pm. That hearing decides whether the deal becomes final.
What happens in December?
Cohen Milstein reports Judge Kenly Kiya Kato preliminarily approved the $13.75 million Ramirez v. AMPAM settlement on August 25, 2026 case approval update. The final approval hearing is set for December 3, 2026. Objections filed by November 12 will be considered at that hearing.
Cohen Milstein reports Judge John H. Chun preliminarily approved the $5 million Schlueter v. BNBuilders settlement on September 2, 2026 case approval update. The final approval hearing is scheduled December 16, 2026. That is the last listed ESOP hearing of the year.
Who qualifies and how large are the funds?
Cohen Milstein states BNBuilders plaintiffs allege owners sold 100% of shares to the new ESOP for $206,508,990 without employee negotiation. The suit says the plan took on deep debt while the majority owner stayed as board chair. Eligibility turns on holding BNBuilders ESOP accounts during the covered period. The ACCT settlement administrator describes $3 million in cash plus a $5.75 million loan-balance reduction to lift share value.
It covers vested participants from December 22, 2021 through December 31, 2025. Bloomberg Law values the deal at $8.75 million total after an alleged $320 million overpayment. The Russelectric and North Highland notices tie eligibility to vested account balances during their class periods. Russelectric covers eligible class members for $14.55 million across four settlements. North Highland covers vested holders from 2016 to 2025 for $2.375 million.
Do you need to file anything?
AMPAM needs no claim form for the pro-rata payment. North Highland and similar funds pay only after final approval and resolution of appeals.
Your address on file controls where checks or rollovers go. Keep your mailing address current with the plan administrator so an automatic payment reaches you.
- Confirm your employer plan matches AMPAM, BNBuilders, ACCT, Russelectric, or North Highland
- Mark November 12 if you hold AMPAM rights and want to object or elect a rollover
- Calendar November 5, November 16, December 3, and December 16 for approval rulings