Attorney Describes What Makes a Good ESOP Candidate
One experienced benefits attorney says he has seen employee stock ownership plans do a whole lot of good for a...
Tag: ESOP
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First Bankers Trust Suspends Services for New ESOPs
The decision follows a ruling against First Bankers Trust in a DOL lawsuit.
House Passes Bill Encouraging Employee Stock Ownership
The Encouraging Employee Ownership Act would increase the cap on the amount of stock closely held companies can award employees...
Fiduciary Caused ESOP Participants To Overpay for Company Stock
A New Jersey District Court judge awarded more than $9.4 million to the plan.
Peabody Energy Stock Drop Suit Dismissed
A judge concluded plaintiffs did not allege special circumstances or offer plausible alternatives according to standards set forth in the...
Court Finds Price for ESOP Purchase Overvalued
The court found trustee Wilmington Trust “rushed its evaluation of the ESOP, failed to follow its own policies, and failed...
401(k) Participant Sues Over Investment in Chesapeake Energy
For one thing, the participant contends the ESOP portion of the plan should have been invested in the sponsoring company’s...
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Stock Option Tax Reporting Support From myStockOptions.com
“Anyone who received income from equity compensation or sold shares in 2016 must understand the related reporting on IRS tax...
Fiduciary Ordered to Give Up Cars to Restore Plan Losses
A federal court found that no amount of judgements from previous decisions had been satisfied.
Supreme Court May Hear Case About Co-fiduciary Indemnifying Trustees
The case involves a complicated leveraged buyout of an ESOP that left participants with worthless stock.
D.C. Appellate Court Affirms Employer Win in Stock Drop Suit
So called “stock drop” litigation remains a concern for many in 2017, but recently some employers have posted key court...
Fiduciaries Failed to Follow Plan Document for ESOP Termination
A federal court has ordered the fiduciaries to restore losses to plan participants.
Participant Files Third Wells Fargo Stock Drop Suit
The third complaint suggests defendants should have pushed for disclosures that would have corrected the company stock price.
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Providers Partner on ‘Insight’ Stock Plan Solution
Plan Management Corporation and CompIntelligence announced a strategic partnership and integration, aimed at delivering a “complete stock plan solution.”
ESOP Fiduciaries Sued for Inflated Price of Stock Purchase
The overpayment caused a direct loss to the plan and constituted a prohibited transaction under the Employee Retirement Income Security...
Stock Drop Suit Targets Wells Fargo
In the new ERISA lawsuit, plaintiffs allege that plan fiduciaries knew well in advance about the problematic sales practices that...
Case About Forcing Participants Out of Company Stock Moves Forward
A court found eliminating ESOP participants’ right to invest in company stock is not a violation of ERISA’s anti-cutback provisions,...
BP Stock Drop Suit Sent Back to Lower Court Again
A federal appellate court found that while plaintiffs claimed to have met new standards in their amended complaint, they did...
Court Finds No Fiduciary Breaches in Antioch ESOP Transaction
A U.S. District Court found the true fiduciary to the transaction did not breach its fiduciary duties and ruled for...
Target Hit With a Second Stock-Drop Challenge
Plaintiffs say the “artificial inflation of the company stock price” made Target shares a bad investment for the ESOP.