Reliance Trust Settles DOL Lawsuit Over ESOP Valuation
The lawsuit alleged that employee stock ownership plan participants overpaid for company stock.
Tag: Employee Stock Ownership Plan
Stock Drop Lawsuit Tied to Allergan-Actavis Acquisition Dismissed
Ruling in favor of a detailed motion to dismiss filed by defendants, the court cites a long list of precedent-setting...
Cactus Feeders ESOP Fiduciaries Agree to Sizable DOL Settlement
Lubbock National Bank, the ESOP’s trustee, has also agreed to take steps that will ensure it fulfills its fiduciary obligations...
ESOP Fiduciaries to Pay More Than $2 Million to Settle DOL Lawsuit
The Department of Labor sued Sonnax Industries, company officers and ESOP fiduciaries Tommy Harmon and Frederick Fritz, and Illinois-based First...
Two ESOP Bills Would Promote Employee Ownership
Both, one in the House and one in the Senate, have bipartisan support
6th Circuit Rules for Eaton Corp. in ESOP Suit
The appellate court agreed with a lower court that plaintiffs did not meet pleading standards set forth in the Supreme...
Tax Reform Bill Could Impact ESOP Deductions
Newly leveraged ESOPs that borrow a large amount relative to their earnings could find their deductible expenses decrease.