Executives in ESOP Have Standing to Sue for Plan

In TBM Consulting Grp., Inc. v. Lubbock Nat’l Bank, No. 5:17-cv-00460-FL (E.D.N.C, May 31, 2018), a court rejected Lubbock National Bank’s argument that the executives of TBM Consulting lacked standing to sue on behalf of the plan because they were unrepresentative of the class and/or they did not provide adequate procedural safeguards to demonstrate that they could be.