Triad Workers Get OK for Stock Plan Deal Valued at $14.8 Million

Triad Manufacturing Inc. employees received final approval for a settlement they say is worth $14.8 million in their lawsuit claiming they were forced to significantly overpay for stock in their company.

The settlement is aimed at increasing the value of the Triad stock in the company’s employee stock ownership plan through multiple mechanisms. In particular, the shareholders who sold their stock to the plan will forfeit $15 million in interest owed to them. They’ll also forfeit 150,000 stock warrants they received through the deal, and the strike price on their remaining warrants will jump from $2 to $9.45, according to ...