Tag: ESOP

Puerto Rican Bank Settles Stock Drop Case

An $8.2 million settlement has been preliminarily approved by the U.S. District Court for the District of Puerto Rico in the consolidated class action lawsuit against Puerto Rico-based...

Proxy Voting Goes Mobile

Broadridge Financial Solutions Inc. announced that Mobile ProxyVote.com is live and compatible with mobile devices.

IRS Rules ESOP not Tax Qualified

The U.S. Tax Court upheld a decision by the Internal Revenue Service (IRS) that an employee stock ownership plan (ESOP) and its employee stock ownership trust (ESOT) are not...

Calif. Bank Hit with Stock-Drop Suit

FirstFed Financial Corp. employees have filed a stock-drop suit alleging the bank kept company stock in its employee-stock ownership plan (ESOP) after it was no longer prudent to...