Appvion Inc

/Tag: Appvion Inc

Paper company sued over ESOP transactions

The fiduciary of the Appvion Inc. Retirement Savings and Employee Stock Ownership Plan sued the bankrupt paper company's former management team, its board of directors and a slew of advisers for allegedly inducing employees to take money out of their 401(k) accounts to purchase 100% of the stock of Appvion's parent company, Paperweight Development Corp.