Tribune workers get favorable ruling on ESOP suit

Tribune Company employees suing over their collapsed employee stock ownership plan (ESOP) have won a partial victory in the case. Judge Rebecca Pallmeyer granted partial summary judgment to the plaintiffs in one of their claims against the fiduciary, Citizens Financial Group Inc.-owned GreatBanc Trust Co. She agreed with the employees that GreatBanc engaged in a prohibited transaction when it approved a leveraged buyout-related stock purchase by the ESOP. The ruling may allow the employees to recover some of their losses from GreatBanc. And in separate court action, the media company said it would take five people -- including Chief Financial Officer Chandler Bigelow -- out its plan to pay bonuses to top executives.