The Complaint alleges that the Board of Directors of CQ Holding Company, Inc., the Administrative Committee of the Casino Queen Employee Stock Ownership Plan, Charles Bidwill III, Timothy J. to the ESOP for an inflated value, which caused a multi-million-dollar loss to the ESOP.Ī federal class action was filed in the United States District Court for the Southern District of Illinois (3:20-cv-00377) on April 27, 2020. Board of Directors of CQ Holding Company, Inc., et al., brought on behalf of participants and beneficiaries of the Casino Queen Employee Stock Ownership Plan (“CQ ESOP”), alleges numerous violations of the Employee Retirement Income Security Act (“ERISA”) in connection with the sale of CQ Holding Company, Inc.
