Tag: ESOP

The settlement agreement resolves a civil suit brought by the DOL, alleging Cactus Feeders Inc. ESOP fiduciaries failed to fulfill their obligations under ERISA during a December 2010...

A federal district court has entered a consent judgment requiring the fiduciaries of the Sonnax Industries’ employee stock ownership plan (ESOP) to pay $2,225,000 to the plan.

A complicated decision out of a Virginia district court weighs the merits of third-party expert commentary in ERISA litigation, in this case pertaining to an allegedly improper ESOP...

In an interview with PLANADVISER, Jerry Ripperger, vice president of consulting at Principal, highlights a new, fee website the firm has rolled out to help advisers and their...

Both aim to promote employee ownership and have bipartisan support.

The lawsuits alleged that First Bankers Trust violated the Employee Retirement Income Security Act when it approved stock purchases by three employee stock ownership plans.

Defendants wanted their agreement to extend negotiations beyond ERISA's six-year statute of limitations to be nulled.

Nominating a plan sponsor client is a great way to show appreciation and highlight important best practices that are improving outcomes for defined contribution and pension plan participants....

With the determination letter program gone, Wagner Law Group is helping plan sponsors remain compliant with the IRS.

A court used plain language of the ESOP plan document to show the plan administrator's failure to implement participants diversification elections was "arbitrary and capricious."

The judge noted that stock must be purchased at an inflated price and sold at a loss for an economic injury to occur.

Research from the NCEO finds ESOPs still hold a significant amount of retirement plan assets.

A U.S. appellate court had to resolve a dispute about whose burden it was to prove or disprove a fiduciary breach before deciding on the case.

The proposed class action suit includes many of the classic claims typically leveled in ERISA stock-drop litigation. 

Some ownership transitions are designed to wring every last dollar possible out of the business, but this is simply not what ESOPs are about.

In April, a federal judge found First Bankers Trust Services Inc. liable for causing an ESOP to overpay for shares of the company’s stock.

The legislation would reform the Securities and Exchange Commission (SEC) Rule 701, which imposes a slew of regulations on small businesses, especially newly formed start-ups.

A federal court held that First Bankers breached its fiduciary duties to the plan’s participants by failing to conduct a prudent investigation into the fair market value of...

The plaintiffs did not meet pleading standards set forth in Fifth Third v. Dudenhoeffer, according to a district court opinion.