News & Analysis as of

Employee Stock Ownership Plans Breach of Duty Stocks

Proskauer - Employee Benefits & Executive...

Putative ESOP Class Action Dismissed for Failure to Exhaust Administrative Remedies

The decision in Bolton v. Inland Fresh Seafood Corp. of America Inc., No. 22-cv-4602 (N.D. Ga. Dec. 5, 2023)should serve as a reminder to all ERISA practitioners that, if litigating in courts of the Eleventh Circuit,...more

Bond Schoeneck & King PLLC

Important Recent ESOP Developments 

There were several significant legal developments relating to employee stock ownership plans (ESOPs) last year. This information memo will summarize a few of the most important developments. ...more

Jackson Lewis P.C.

Failure To Identify Specific Viable Alternative Action Dooms Stock Drop Claim

Jackson Lewis P.C. on

The Ninth Circuit recently affirmed the dismissal of an ERISA employer-stock drop putative class action, holding that the plaintiff’s failure to identify specific, viable alternative actions that plan fiduciaries should have...more

American Conference Institute (ACI)

[Event] ERISA Litigation – Valuable insights on how to prevent, manage and defend against rising, costly ERISA disputes - November...

Ensure that You are Equipped with the Latest Updates and Strategies to Prevent, Manage and Defend Against Rising, Costly ERISA Disputes - This annual event is your best opportunity to gain best practices for your everyday...more

Bradley Arant Boult Cummings LLP

You Misunderstood the Valuation: Court Rejects ESOP Fiduciary Breach Suit - Employee Benefits Alert

A federal trial court has dismissed a lawsuit brought by a participant in an employee stock ownership plan (ESOP) claiming that fiduciaries of the ESOP caused it to overpay for stock of the company in a leveraged transaction....more

Proskauer - Employee Benefits & Executive...

U.S. Supreme Court Seeks Solicitor General’s Input on Co-fiduciary Indemnification

Earlier this month, the U.S. Supreme Court invited the Solicitor General to file a brief expressing the government’s views on a petition for certiorari asking the Court to decide whether ERISA permits a cause of action for...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

Holland & Knight LLP

Fifth Circuit Decision Includes Important Holdings for ESOP Fiduciaries

Holland & Knight LLP on

The U.S. Court of Appeals for the Fifth Circuit affirmed on May 3, 2016, the holdings of the U.S. District Court for the Southern District of Mississippi on numerous issues involving the sale of closely held stock from a...more

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