Court Dimisses Lawsuit Over ESOP Valuation
A federal district court judge explained how the plaintiff actually benefited after the stock shares were purchased, so she suffered no harm.
Tag: Employee Stock Ownership Plan
Court Finds Red Flags Ignored in ESOP Valuation
Fiduciaries were ordered to restore $6,502,500 to the plan for an overpriced purchase.
S Corporation ESOPs Can Give Workers a Retirement Savings Advantage
In such plans, they have more than twice the average retirement balance of other workers.
DOL, Reliance Trust Settle ESOP Pricing Lawsuit
Reliance Trust will pay $4,545,454 back to the plan within 30 days.
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Bills Addresses Retirement Plan AccessA package of bills sponsored by Senators Cory Booker, D-New Jersey, Tom Cotton, R-Alaska, Heidi Heitkamp, D-North Dakota, and Todd Young, R-Indiana, would increase access...
DOL Investigation Results in $5 Million ESOP Settlement
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 stock transaction.
ESOP Participants to Receive More Than $2 Million for Overpayment of Stock
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.
Two ESOP Bills Progress in Congress
Both aim to promote employee ownership and have bipartisan support.
403(b)s: Similar but Different
For instance, compared with others, these plans are less apt to offer loans
Appeals Court Upholds Dismissal of Lawsuit Against Eaton
The class-action suit had accused the company of making statements to artificially inflate Eaton’s stock.
Tax Reform Bill Could Affect ESOPs
Newly leveraged Employee Stock Ownership Plans that borrow a large amount may find that their deductible expenses will be lower.