January 9th, 2018
The appellate court agreed with a lower court that plaintiffs did not meet pleading standards set forth in the Supreme Court ruling in
Fifth Third v. Dudenhoeffer.
November 20th, 2017
The DOL alleged in all three cases that the firm approved transactions without undertaking the due diligence required of an ERISA fiduciary.
September 20th, 2017
The court granted summary judgment to the plaintiffs and ordered their benefits be paid along with prejudgment interest.
August 18th, 2017
investigation by EBSA found the owner of a laser surgery center in New York to
have violated ERISA guidelines regarding company valuation for an
August 15th, 2017
A judge said the plaintiffs did not allege an injury because, although the purchase price of the stock was allegedly inflated, the stock has not been sold at a loss.
Data and Research
July 24th, 2017
Since 2010, an average of 229 new ESOPs have been created each year, the NCEO finds.
June 29th, 2017
An appellate court first discussed where the burden of proof lies in ERISA cases.
June 15th, 2017
Plaintiffs attempt in their complaint to establish that fraud was at least potentially occurring, and that this should have been enough to prevent plan fiduciaries from continuing to offer employer stock to participants.
May 22nd, 2017
One experienced benefits attorney says he has seen employee stock ownership plans do a whole lot of good for a lot of people during the course of his career—and he wants to see more.
May 17th, 2017
The decision follows a ruling against First Bankers Trust in a DOL lawsuit.
April 18th, 2017
The Encouraging Employee Ownership Act would increase the cap on the amount of stock closely held companies can award employees before triggering certain SEC reporting requirements.
April 18th, 2017
A New Jersey District Court judge awarded more than $9.4 million to the plan.
April 10th, 2017
A judge concluded plaintiffs did not allege special circumstances or offer plausible alternatives according to standards set forth in the Supreme Court’s Dudenhoeffer ruling.
March 17th, 2017
The court found trustee Wilmington Trust “rushed its evaluation of the ESOP, failed to follow its own policies, and failed to adequately vet [other valuators’] conclusions.”
March 15th, 2017
For one thing, the participant contends the ESOP portion of the plan should have been invested in the sponsoring company’s stock, not Chesapeake Energy’s stock.
February 23rd, 2017
“Anyone who received income from equity compensation or sold shares in 2016 must understand the related reporting on IRS tax forms to avoid costly errors on tax returns.”
January 25th, 2017
A federal court found that no amount of judgements from previous decisions had been satisfied.
January 18th, 2017
The case involves a complicated leveraged buyout of an ESOP that left participants with worthless stock.
January 4th, 2017
So called “stock drop” litigation remains a concern for many in 2017, but recently some employers have posted key court victories and successfully defended their ESOP investment decisions.
November 2nd, 2016
A federal court has ordered the fiduciaries to restore losses to plan participants.