Thalhimer employee stock battered by MGT fallout

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The implosion of MGT Construction, which last month filed for Chapter 7 bankruptcy liquidation, has dealt a blow to its parent company’s employee stock ownership plan.

MGT Construction files bankruptcy

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Several months after a lawsuit brought to light an alleged accounting scheme and claimed it had become a “cash drain,” the construction arm of local real estate firm Thalhimer has been put into bankruptcy.