Judge Certifies Class in Lawsuit Filed by ESOP Participants
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.
Tag: Employee Stock Ownership Plan
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.
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.