ESOP and stock price plummet

[sjbriggs]

I had a question about ESOP (employee stock ownership plans). I left a company 2.5 years ago that had an ESOP plan for retirement that they annually deposited company stock into. This was separate from our 401k. Shortly before I left the company, they instituted a policy stating that if you leave the company, you can only cash out or rollover 1/2 of your stock. You had to wait 3 years for the balance. During the 3 year wait, the stock has plummeted from $32 to $2.50 per share. Do I have any legal recourse?

 

[vivek]

Hi,
This is not in any way the reply to your query. Actually I have a query similar to your one posted on '16th FEB' by the user name "vivek". PLease have a look at that and see if you can answer that for me. I haven't received any replies for that , as yet.
Thanks.