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Violation Tracker Individual Record

Company: Maine Oxy-Acetylene Supply Co.
Penalty: $6,330,000
Year: 2022
Date: December 13, 2022
Offense Group: employment-related offenses
Primary Offense: benefit plan administrator violation
Secondary Offense: pension ERISA violation
Violation Description: Maine Oxy-Acetylene Supply agreed to pay over $6 million to settle allegations that employees were pressured to sell company stock below market value.
Level of Government: federal
Action Type: private litigation
Court: District of Maine
Civil or Criminal Case: civil
Case ID: 2:19cv176
Case Name: Glynn et al v. Maine Oxy-Acetylene Supply Co et al
Private Lawsuit Resolution Type: settlement
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.