The proposed $2,375,000 settlement resolves claims that North Highland's employee stock ownership plan mishandled company stock transactions. Eligible ESOP participants and beneficiaries receive a pro rata share by check, or may elect a tax-qualified rollover by November 5, 2026. The court has not yet approved it.
Benefit Summary
Eligible plan participants and beneficiaries: People with qualifying vested plan shares during October 1, 2016-May 30, 2025, subject to the exclusions below.
The administrator calculates your proportional share from plan records under the court-approved allocation method. No individual amount is promised. A check will be attempted automatically unless you elect a direct rollover to an eligible retirement account by November 5, 2026. These are two ways to receive the same payment, not two payments. Checks have applicable tax withholding; direct rollovers do not have automatic withholding. All payments depend on final approval and the settlement becoming effective.
The $2,375,000 fund, plus earned interest, is reduced by court-approved legal fees, costs and administration expenses before individual shares are calculated.
Available Awards
Based on plan shares
Who Is Included
You must be a participant in The North Highland Company Employee Stock Ownership Plan, or a participant's beneficiary, with vested shares of North Highland ESOP Holdings, Inc. held in the plan at any time from October 1, 2016 through May 30, 2025. The plan was formerly called The North Highland Company Employee Stock Ownership and 401(k) Plan. The individual defendants and their immediate families are excluded, along with those excluded people's legal representatives, successors and assigns.
- Products included: North Highland employee stock ownership plan interests
- Purchase window: Vested plan shares held October 1, 2016 through May 30, 2025
- Proof required: The administrator calculates eligibility and payments from plan records; a loss claim or receipts are not required. The optional rollover election asks for identity and account information and a signature. Enter sensitive details only through the official administrator's process.
Claim and Payment Information
- Claim method: Automatic mailed check; optional online rollover election
- Instructions: No claim form is required for a check. Keep your mailing address current with the administrator. To request a direct rollover to an eligible retirement account instead, complete the online election by November 5, 2026. The portal requires LoginID and PIN from your notice, all requested information and a signature; contact (833) 421-7346 if you need help. Election page checked September 8, 2026: https://www.nhesopsettlement.com/form/claim .
Questions & Answers
Do I need to submit a claim to get paid?
No. If you qualify, the administrator will attempt to mail a check after the settlement becomes final. November 5, 2026 is the optional rollover-election deadline, not a deadline to claim the automatic check. Make sure the administrator has your current address.
How is my share calculated?
The administrator uses plan recordkeeper information and the court-approved allocation plan, considering shares or vested balances held during the covered period. The $2.375 million is the total fund, not an individual payment. Approved fees and expenses are deducted first.
The notice gives no fixed per-person estimate. Exhibit E to the settlement agreement contains the detailed allocation method.
What do I need for a rollover election?
Use the official online election form by November 5, 2026. It asks for your notice LoginID and PIN, required personal information including date of birth and Social Security number, and a signature. Arrange an eligible receiving retirement account and confirm that it will accept the transfer.
The portal labels some instructions for former participants, while the notice describes the rollover option for settlement class members generally. If you are a current participant and are unsure which instructions apply, contact (833) 421-7346 or [email protected]. Do not submit personal information to this summary site. Portal checked September 8, 2026: https://www.nhesopsettlement.com/form/claim .
What if the rollover cannot be completed?
The administrator will attempt to mail a check instead. A late or incomplete election, missing signature, or a receiving institution that refuses the transfer can lead to a check. Applicable tax withholding and reporting then apply. Keep your mailing address current even if you request a rollover.
How do the payment methods affect withholding?
The notice says a direct rollover is not subject to automatic tax withholding, while a check is. Withholding may not cover your full tax obligation. The notice's final page also describes possible later rollovers and early-distribution taxes and exceptions.
Read that information and ask a tax professional about your circumstances before choosing. This page does not calculate your tax or decide which method is best for you.
When should I expect payment?
The notice estimates approximately four months after final approval if there are no appeals or unforeseen delays. The rollover portal instead says the first distribution is likely within 60 days after the approval order if there are no appeals. These official estimates differ; neither gives a guaranteed date.
Both depend on final approval and finality, and appeals can cause substantial delays. Ask Simpluris for the current schedule. Sources checked September 8, 2026: notice Item 7 at https://cw.simpluris.com/docs/public/downloads/AHO4/NOTICE and https://www.nhesopsettlement.com/form/claim .
Can I leave this settlement?
No. The notice says this class does not have an opt-out right. If the court approves the settlement, members are bound by the result and the release of covered plan-related claims. Article 3 of the agreement contains the full release. You can object, but objecting does not remove you from the class.
How do I object, and when are fee details available?
The objection deadline is October 6, 2026. File with the court and mail your objection and supporting materials to class counsel and defense counsel. Notice Item 11 supplies the addresses and required contents: case identification, contact information, factual and legal reasons, supporting documents, any attorney's details and your signature. The mailed copies must be postmarked at least 30 days before the November 5 hearing.
The notice is inconsistent about when the fee application will be filed: page 4 gives November 5 at 2 p.m. EST, but Item 10 says before the objection deadline. Check the official documents page or contact class counsel for the application; do not assume that the objection deadline has moved. Checked September 8, 2026: https://cw.simpluris.com/docs/public/downloads/AHO4/NOTICE and https://www.nhesopsettlement.com/documents/ .
Must I attend the hearing, and how can I speak?
Attendance is optional. The hearing is scheduled for November 5, 2026 at 2 p.m. EST, Courtroom 1706, 75 Ted Turner Drive SW, Atlanta, Georgia. Check the official site for a changed date or remote-hearing arrangements.
To speak, file a notice of intent with the clerk and mail it to class counsel and defense counsel, postmarked at least 14 calendar days before the hearing. Follow the written-objection requirements too if you want to object. See notice Items 11-14.
Who can help me update my address or find my login?
Contact Simpluris at (833) 421-7346, [email protected], or P.O. Box 26170, Santa Ana, CA 92799. The official website also offers an address-update form. Keep your information current so the administrator can attempt delivery. Official contact details checked September 8, 2026: https://www.nhesopsettlement.com/ .
Other Important Dates
- Objection deadline: 2026-10-06
- Final approval hearing: November 5, 2026, at 2:00 pm EST
- Hearing location: Courtroom 1706, Ricard B. Russell Federal Building, 75 Ted Turner Drive, S.W., Atlanta, Georgia 30303
Case Details
- Total settlement fund: $2,375,000.00
- Case name: Phyllis Michele Howell, Simon Reisert, and Carole Speight v. Argent Trust Company, et al.
- Case number: 1:22-cv-03959-SDG
- Court: United States District Court for the Northern District of Georgia, Atlanta Division
- Administrator: Simpluris
- Official Settlement Website: https://www.nhesopsettlement.com/
Sources
Claim form, FAQ, deadlines, administrator information
Court-approved notice describing eligibility and benefits