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Category: ESOPs

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…

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…

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.…

ERISA Watch – Court Upholds Victory For ESOP Plan Participants In ERISA Breach of Fiduciary Duty Class Action

This week’s notable decision is Chesemore, et al. v. Fenkell, No. 14-3181, __F.3d__, 2016 WL 3924308 (7th Cir. July 21, 2016), a class action matter alleging ERISA breach of fiduciary duty claims in connection with the transfer of pension accounts…

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