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Trustees Stocks

ArentFox Schiff

Fiduciary Obligations in a Re-Leveraging Transaction Heads to Court: Shipp v. Central States Manufacturing, Inc., Case...

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On November 28, three participants in Central States Manufacturing, Inc.’s employee stock ownership plan (ESOP) filed a complaint on their own behalf and on behalf of other ESOP participants against the company, its board of...more

ArentFox Schiff

Self-Directed IRAs and the Prohibited Transaction Rules – Part 1

ArentFox Schiff on

Part 1: Permitted Investments and Compliance - The self-directed individual retirement account (IRA) is an increasingly popular option for an IRA account owner, especially those owners who have significant net worth and...more

Husch Blackwell LLP

Anatomy of an ESOP

Husch Blackwell LLP on

ESOPs can pay fair market value for the stock: Stock purchased by an ESOP must be appraised by an independent third party expert working with a trustee for the ESOP who must also be independent from the seller. The ESOP is...more

Holland & Hart LLP

Continuing Reporting Obligations Under the Corporate Transparency Act: You're Never Done

Holland & Hart LLP on

Most smaller businesses newly formed or registered to do business in the United States will soon be required to file their initial beneficial ownership report with the federal Financial Crimes Enforcement Network (FinCEN),...more

Proskauer Rose LLP

Wealth Management Update - September 2022 - 2

Proskauer Rose LLP on

October 2022 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The October applicable federal rate ("AFR") for use with a sale to a defective grantor...more

Jackson Lewis P.C.

Seventh Circuit Revives State Law Claims Against Executives Acting As “Dual-Hat” Fiduciaries

Jackson Lewis P.C. on

The Seventh Circuit ruled recently that ERISA does not preempt certain state law claims against directors and officers because ERISA’s text and purpose contemplate parallel corporate state-law liability against executives who...more

Goulston & Storrs PC

Probate & Fiduciary Litigation Newsletter – October 2019

Goulston & Storrs PC on

The Probate & Fiduciary Litigation Newsletter compiles recent Trust & Estate cases. Our lawyers are at the forefront of this area of the law, shaping how it is handled in the Probate and Family Court. ...more

Holland & Knight LLP

DOL Enters into Another Settlement Agreement with ESOP Trustee

Holland & Knight LLP on

• The U.S. Department of Labor (DOL) closed out 2017 by entering into yet another settlement agreement with the trustee of an employee stock ownership plan (ESOP). • The latest agreement (the Alpha Agreement) requires Alpha...more

Holland & Knight LLP

Seventh Circuit Rejects Dudenhoeffer Applicability to Privately Held Stock - Decision Clarifies Burden to Plead ERISA Section 406...

Holland & Knight LLP on

The U.S. Court of Appeals for the Seventh Circuit's Aug. 25, 2016, decision in Allen v. GreatBanc Trust Co., No. 15-3569, made it the first court in a published opinion to expressly reject Fifth Third Bancorp v....more

Holland & Knight LLP

District Court Rules on ERISA Liability of Board and ESOP Advisory Committee Members in ESOP Transactions

Holland & Knight LLP on

On Sept. 1, 2016, the U.S. District Court for the Northern District of Illinois issued its decision in the Antioch employee stock ownership plan (ESOP) fiduciary litigation. The court held that the Antioch Board of Directors...more

Smith Anderson

The Season for ESOP Valuation Updates

Smith Anderson on

“In the spring a young man’s fancy lightly turns to thoughts of … [ESOP updates]?” With apologies to Tennyson, this is the time of year when trustees of Employee Stock Ownership Plans, or “ESOPs,” begin to receive and...more

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