Overpayment for stock alleged in lawsuit

The Department of Labor has sued an Indianapolis financial company and its top executive in U.S. District Court in Columbus, accusing them of overpaying when they used money from the employee stock ownership plan of a Lewis Center-based logistics company to buy company stock. The employee stock ownership plan at Triple T Transport paid $17.46 million to buy 80 percent of Triple T stock in 2011, at least $5.9 million higher than the stock's fair market value, according to the lawsuit.