๐Ÿ– Former Casino Queen Employees Sue Company Over Sale | St. Louis Public Radio

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Hanger and Watson led Casino Queen shareholders through the sale of their interest in the company to an Employee Stock Ownership Plan for.


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BELLEVILLE, Ill. โ€“ Scott Hettenhausen worked at the Casino Queen for nearly two decades. In October, he and hundreds of fellow participants.


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Hanger and Watson led Casino Queen shareholders through the sale of their interest in the company to an Employee Stock Ownership Plan for.


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Some previous owners of the Casino Queen, in East St. Louis, collected more than $46 million in the casino's sale last month to employees.


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Clair County, and Barrows were supposed to follow input from an administrative committee set up by the board of directors, which consisted of board members and officers of the company, the plaintiffs allege. The other two, Watson and Barrows, became co-trustees of the ESOP and were charged with approving the transaction in the interest of the ESOP participants โ€” in this case, employees of the casino โ€” the complaint alleges. Share Tweet Email. Watson, who is now a circuit judge in St. Koman, Jeffrey Watson and Robert Barrows, as defendants. The transaction happened after the owners spent years unsuccessfully trying to sell the company to a third-party buyer, according to the suit. Rand, James G. Send questions and comments about this article to: feedback stlpublicradio. District Court in East St. Casino Queen.

The proposed class action lawsuit was filed last casino queen sale in U. Two former Casino Queen employees are suing the old owners of the casino and the hotel, shown here, alleging they inflated the price of the casino in a just click for source to employees.

The complaint also states that employees of the casino were unaware of any transaction until after it occurred and were forced to invest their casino queen sale retirement savings into Casino Queen stock. Instead, the company contributed solely to the ESOP which holds only Casino Queen stock, a stock that lacks a public market," according to the filing.

Paul Sableman Flickr. Bidwill, Rand and Koman all held stakes in the company at the time. Louis on the Air St. Eric Schmid covers the Metro East for St. Top Stories.

Metro East. Yau, a lawyer representing Henseik and Gill.