Tag: ESOPs

Employee stock ownership plan (ESOP) companies saw an economic upturn in 2011, with continued increased share value, support among company leaders and better productivity.

A California court denied a participant’s claim that a state law allows for him to receive shares of a company's non-operational employee stock ownership plan (ESOP), on grounds...

The 2nd U.S. Circuit Court of Appeals has found that Citigroup fiduciaries did not abuse their discretion in continuing to offer company stock as an investment in its...

A New York district court has ruled that Lehman Brothers did not violate its fiduciary duties under the Employee Retirement Income Security Act (ERISA) by continuing to offer...

A federal court has dismissed claims that trustees and directors of Orion Bancorp’s Employee Stock Ownership Plan (ESOP) breached their fiduciary duties under the ERISA by continuing to...

A survey of companies with Employee Stock Ownership Plans (ESOPs) found that they continue to have increased share value, better productivity, and overwhelming support among company executives.

L.A. Times employees of media company Tribune who sued over the 2007 Sam Zell-led takeover of the company have won a $32 million settlement.

In a new review of litigation on the issue of employer stock in retirement plans, the National Center for Employee Ownership has found almost all of the stock...

The Internal Revenue Service has created a revised Employee Stock Ownership Plan (ESOP) Review Worksheet to be used for plans’ initial review.

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...

A recently introduced U.S. Senate bill would exclude appraisers of employee-stock ownership plans (ESOPs) from the U.S. Department of Labor’s new definition of fiduciary.

A UBS Survey found that a large majority of equity compensation participants feel strongly that a comprehensive understanding of their plan will help them reach a secure retirement....

A court approved a $3 million settlement of a case accusing PFF Bancorp Inc of continuing to purchase and invest in company stock for its 401(k) plan and...

The law firm of Lewis, Feinberg, Lee, Renaker & Jackson supports the Department of Labor's (DoL) proposed inclusion of valuators of closely-held employer securities in the definition of...

Congressman Ron Kind (D-Wisconsin) has introduced the "Promotion and Expansion of Private Employee Ownership Act of 2011."

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

The Principal Financial Group obtained an independent audit addressing its procedures for public and private employee stock ownership plan (ESOP) clients.

In comments to the Department of Labor’s Employee Benefits Security Administration (EBSA), the ESOP Association said mandating valuators of private company stock to be fiduciaries will increase the cost...

Two groups commenting on the proposal to expand the definition of fiduciary have urged regulators not to require those appraising employee stock ownership plan (ESOP) assets to be...

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...