Claim that ESOP is rightful buyer of company dismissed, but other claims allowed to continue
In Walther et al., v. Wood et al., No. 1:23-CV-294-GSL-SLC (N.D. Ind.), a district court dismissed a claim by employees that their ESOP should have been the rightful buyer of the 90% of the stock the plan did not own at the time of the former owner’s death, but allowed a claim that the company and the plan’s fiduciary breached their fiduciary duties to continue.
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