The Arborwell Inc. employee stock ownership program began in 2017, but the plaintiffs allege the ESOP’s 2020 sale to CI Quercus was for less than market value.
A federal judge dismissed all counts in the suit brought by a former 401(k) plan participant, but the plaintiff may submit a second amended complaint by June 27.
The EBSA seminar will focus on increasing awareness and understanding of basic fiduciary responsibilities when operating a small or medium-sized retirement plan.
A federal judge in Michigan allowed the lawsuit against Magna International to go forward while denying one of the defendants’ motions for summary judgment
The lawsuit plaintiffs are ESOP participants holding vested shares of Churchill stock in their accounts who were employed at Churchill Mortgage Corporation for several years.
Plan sponsors can make additional corrections via SCP, rather than VCP, while a “reasonable amount of time” to discover an error is defined as 18 months.
Six former employees lost their lawsuit against the auto parts company, that claimed it allowed 401(k) participants to pay excessive recordkeeping and investment fees.