Massachusetts Relaunches Employee Ownership Office

On April 2, the state of Massachusetts announced that it would restore funding for the Massachusetts Office of Employee Involvement and Ownership. The office will be staffed by two nonprofits, Working Wealth and the ICA Group.

Developments in ESOP Litigation

On March 28, the Department of Labor sued Wilmington Trust N.A., alleging that it relied on a flawed valuation in a $46 million ESOP transaction involving Stargate Apparel Inc. and Rivstar Apparel Inc.

Beyster Institute Welcomes New Executive Director

The Beyster Institute at the Rady School of Management at the University of California, San Diego, announced that its new executive director would be Kim Blaugher. Blaugher has more than 30 years of experience as a CPA and consultant in the ESOP field. Rady School Dean Robert S.