The Fourth Circuit Court of Appeals has provided relief to a defendant who sold shares of company stock to an employee stock ownership plan (“ESOP”) by rejecting the district court’s legal conclusion concerning the...more
The Federal District Court for Hawaii recently determined that no violations of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) were established by the U.S. Department of Labor (“DOL”) in a breach of...more
Mergers & Acquisitions And Paycheck Protection Program: Proceed With Caution -
In Spring 2020, Congress adopted the CARES Act, which authorized $350 billion for the Paycheck Protection Program (“PPP”). With an additional...more
3/5/2021
/ Acquisition Agreements ,
C-Suite Executives ,
CARES Act ,
Coronavirus/COVID-19 ,
Cyber Insurance ,
D&O Insurance ,
Department of Labor (DOL) ,
Employee Retirement Income Security Act (ERISA) ,
ESOP ,
Fiduciary Duty ,
Infectious Diseases ,
Merger Agreements ,
Paycheck Protection Program (PPP)
On January 12, 2021, the United States Department of Labor (“DOL”) entered into a consent order with another fiduciary of an employee stock ownership plan (“ESOP”). The consent order in Scalia v. Professional Fiduciary...more