Argent Fights Bid To Revive Suit Over $198M Stock Buy
Choate Construction Co. employee Sharon Lee requested that U.S. District Judge Terrence Boyle reconsider last month's decision to dismiss her Employee Retirement Income Security Act lawsuit. The court held the August decision based on Ms. Lee's failure to produce any evidence that Argent Trust Co., Choate's plan oversight committee, failed to vet her company benefits plan's $198 million purchase of supposedly overvalued stock.
Litigation Attorneys Lynn Calkins and Jessica Farmer represented Choate in the matter. In a statement about the case, Ms. Calkins commented, "As stated previously, we believe the decision is legally sound, and nothing plaintiff has asserted in the motion warrants a reconsideration of the court's decision."