News / Western Global Airlines' Neff family determined to fight 'damaging' law suit

Shareholders of Western Global Airlines (WGA), the Neff family, have come out fighting a class action claiming they had initiated an employee share ownership plan (ESOP) which had “drastically overpaid” for stock purchased from the family.

The plaintiffs claimed the Neffs had walked away with more than half a billion dollars after valuing the carrier at $1.3bn, which “far exceeds the fair market value”.

But the shareholders, in a 103-page response to the lawsuit, said they were acting in the best interests ...