Judge Covington dismissed the case but allowed Molla to amend his complaint to document his attempts at internal resolution. Molla did so in August 2023, but Gerdau challenged the sufficiency of his pleading, claiming that he improperly introduced new claims that were never raised before the retirement plan’s committee.
Molla countered that his exhaustion history was well-documented and that any new claims would have been futile to pursue internally. However, Judge Covington ruled that these theories were not included in his amended complaint, giving him one last chance to revise his filing.
Instead of continuing litigation, both parties opted for settlement during a mediation session on Tuesday.
Awaiting Court Approval
While details of the Gerdau Ameristeel 401(k) settlement have not yet been disclosed, Molla’s attorneys have requested two weeks to finalize the agreement and seek court approval.
Neither Gerdau Ameristeel nor Molla’s attorneys have commented publicly on the settlement.
Legal Representation
- Molla is represented by:
- Marc R. Edelman of Morgan & Morgan PA
- Brandon J. Hill, Luis A. Cabassa, and Amanda E. Heystek of Wenzel Fenton Cabassa PA
- Gerdau Ameristeel is represented by:
- Brett J. Preston and Fred C. Marshall of Hill Ward & Henderson PA
