News & Analysis as of

Employee Retirement Income Security Act (ERISA) Employee Stock Ownership Plans Stocks

Husch Blackwell LLP

ESOPs for Cannabis Companies

Husch Blackwell LLP on

Employee stock ownership plans (ESOPs) have been used as a business succession strategy by employers across many industries. In the cannabis industry, ESOPs have come and gone and come again as a trendy topic promising to fix...more

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

ArentFox Schiff

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

ArentFox Schiff on

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

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

Faegre Drinker Biddle & Reath LLP

Thinking ESOPs: Court Rejects DOL Claims of ESOP Overpayment

The board of directors of Bowers + Kubota Consulting, Inc. recently won an employee stock ownership plan (ESOP) fiduciary/breach case brought against them by the Department of Labor. See Walsh v. Bowers, et al., No....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

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

Cozen O'Connor

Seventh Circuit Eases ERISA Plaintiffs’ Pleading Burden Against Private Company Plan Fiduciaries

Cozen O'Connor on

On August 25, 2016, the U.S. Court of Appeals for the Seventh Circuit, in Allen v. GreatBanc Trust Co., No. 15-3569, 2016 WL 4474730 (7th Cir. 2016), held that (1) the defendant in an ERISA case, rather than the plaintiff,...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

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

Alston & Bird

Declaration of Independence: Preserving the Role of the Independent Fiduciary Post-Dudenhoeffer

Alston & Bird on

In the wake of Fifth Third v. Dudenhoeffer, a complaint that seeks to hold an ERISA fiduciary liable for failing to divest a plan of employer stock based solely upon publicly available information fails to state a plausible...more

Carlton Fields

What Fifth Third Bancorp v. Dudenhoeffer May Mean for ERISA Stock-Drop Litigation

Carlton Fields on

Did the future course of “stock-drop” litigation under the Employee Retirement Income Security Act (ERISA) against fiduciaries of public company employee stock ownership plans (ESOPs) take a sharp turn on June 25, 2014, when...more

Carlton Fields

Supreme Court Establishes New Standard for Fiduciaries of ESOP Plans

Carlton Fields on

The Supreme Court, in Fifth Third Bancorp v. John Dudenhoeffer (Dudenhoeffer), recently established new standards for determining when fiduciaries of Employee Stock Ownership Plans (ESOPs) act prudently regarding a company’s...more

King & Spalding

Supreme Court Sets New Standards for ERISA Stock-Drop Cases

King & Spalding on

In the Fifth Third Bancorp v. Dudenhoeffer decision issued June 25, 2014, the Supreme Court unanimously rejected the “Moench presumption”, a presumption of prudence for employer stock held in an ESOP or a 401(k) plan company...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

17 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide