Tag: ESOPs

One commentator who works in the employee stock ownership plan space says the ruling represents “one of the most comprehensive rebukes of DOL arguments” in such a valuation...

Workers at employee-owned S corporations, who invest in and own their employers via ‘S employee stock ownership plans,’ report being...

The case history of IBM v. Jander shows the importance, but also the limitations, of Supreme Court rulings in fiduciary...

The participants claim they were mislead and intimidated to sell their shares back to the company at a price significantly lower than fair market value.

The SECURE Act's provisions for pooled employer plans (PEPs) did not apply to 403(b) plans.

The firm has previously settled similar challenges related to market price evaluation services provided to employee stock ownership plans.

The lawsuit alleges a series of bad-faith dealings were made that caused losses to the ESOP while benefiting executives.

The DOL alleged Wilmington Trust caused losses to ESOPs when it authorized them to pay more than fair market value for privately held employer stock.

The Department of Labor brought the underlying case and has argued successfully in opposition to the defendants’ dismissal motion, which has now been denied.

A judge previously found eliminating ESOP participants’ right to invest in company stock is not a violation of ERISA’s anti-cutback provisions, but forcing participants with balances greater than...

The motion cites as one reason for settlement “probable costs, in both time and money, of continued litigation.”

A federal district court judge explained how the plaintiff actually benefited after the stock shares were purchased, so she suffered no harm.

Fiduciaries were ordered to restore $6,502,500 to the plan for an overpriced purchase.

A federal court judge found a severance agreement was broad enough to cover Employee Retirement Security Act (ERISA) claims against the trustee of an employee stock ownership plan...