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Category: ESOPs
24 Mar 2019
Your ERISA Watch – Fourth Circuit Affirms Multi-Million Judgment Against Trustee for Breach of Fiduciary Duty to Employee Stock Ownership Plan
This week’s notable decision is Brundle v. Wilmington Tr., N.A., No. 17-1873, __F.3d__, 2019 WL 1287632 (4th Cir. Mar. 21, 2019), as amended (Mar. 22, 2019), where the Fourth Circuit Court of Appeals affirmed the district court’s findings that the…
16 Dec 2018
Your ERISA Watch – Second Circuit Holds that Participants Stated Plausible ERISA Claim for Breach of Duty to Manage ESOP Assets Prudently
This week’s notable decision is the Second Circuit’s decision in Jander v. Ret. Plans Comittee of IBM, No. 17-3518,__F.3d__, 2018 WL 6441116 (2d Cir. Dec. 10, 2018), where the Court was presented with the question of what standard one must…
16 Jul 2018
Your ERISA Watch – Plaintiffs Fully Defeat Five Motions To Dismiss ESOP Class Action
This week’s notable decision, Hurtado et al. v. Rainbow Disposal Co., No. 817CV01605JLSDFM, 2018 WL 3372752 (C.D. Cal. July 9, 2018), is a victory for ESOP plan participants in the context of closely-held employer stock. This putative ERISA class action…
11 Oct 2016
ERISA Watch – Former Employee Participants May Proceed on Claims Challenging ESOP Plan Amendment Forcing Their Sale of Stock
This morning’s cup of joe was provided courtesy of colleagues Joe Barton of Cohen Milstein Sellers & Toll (D.C.), and Dan Feinberg of Feinberg, Jackson, Worthman, & Wasow (Oakland), Plaintiffs’ counsel in this week’s notable decision (summary below prepared by Mr.…
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