Control of a Set-aside Entity
Since their establishment in 1974, Employee Stock Ownership Plans (“ESOPs”) have become a popular and effective mechanism for private companies (both C corporations and S corporations) to provide employees an opportunity to...more
Applying Ohio law, the United States Court of Appeals for the Sixth Circuit has concluded that an ERISA exclusion in a professional services liability insurance policy barred coverage for all ERISA-related Claims made against...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
The Second Circuit sent shock waves through the community of ERISA stock-drop practitioners late last year in Jander v. Retirement Plans Committee of IBM by finding plan participants had plausibly alleged a breach of duty of...more
In the world of ERISA litigation, one of the safest bets is usually that, if an employer establishes something that it calls a “plan,” and the plan allows a significant number of its employees to obtain money after...more
After some speculation about a delay in implementation of the final rules on claims adjudication of disability claims under welfare and retirement plans (the Final Rule), the US Department of Labor (DOL) confirmed that the...more
Through a series of recent settlements, the US Department of Labor has outlined the process steps fiduciaries should follow in connection with a transaction involving a purchase from, or sale to, an employee stock ownership...more
Granting employees equity can be a great way to reward and motivate employees. Most employees will work harder once they have some skin in the game. However, granting equity can be complicated and it's easy to make mistakes....more