Employee Ownership Legal Digest

Stay informed on the latest legal developments impacting employee ownership. This page provides timely and concise summaries of key cases and rulings, contributed by experienced attorneys, to help the entire employee ownership community understand their implications, and also offers access to NCEO's archive of prior content.

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September 05, 2025

Court Dismisses, Without Prejudice, BDO ESOP Case for Lack of Standing

Matthew Goedert

In Taylor v. BDO USA, P.C., plaintiff Tristin Taylor, a participant in the BDO USA Employee Stock Ownership Plan (ESOP), brought a putative class action under ERISA alleging that defendants breached their fiduciary duties when the ESOP allegedly overpaid for BDO stock.

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August 05, 2025

Court Grants Summary Judgment for Defendant in ESOP Legal Malpractice Case

Christopher Wingard

A district judge granted summary judgment for attorney Greg Hansen in the valuation case involving Bowers and Kubota, a Hawaii architecture firm (the “company”).

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August 05, 2025

PDQ Food Stores Employee Stock Plan Lawsuit Dismissed Again

Rick Pearl

On June 20, 2025, a federal district court in Wisconsin dismissed an employee’s lawsuit challenging the sale of PDQ, a partially ESOP-owned company, to a third party buyer. Around 2017, PDQ’s board sought a buyer and ultimately reached an agreement with Kwik Trip.

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Recommended Titles

ESOP and 401(k) Plan Employer Stock Litigation Review 1990-2025

Categorizes and summarizes litigation over company stock in ESOPs and 401(k) plans.

ESOP Regulatory Rulings 1990-2025

Categorizes and summarizes IRS and DOL rulings and regulations on ESOPs and related plans.

Meet Our Authors

Christopher Wingard

Chris is an associate in Kleinbard’s Business & Finance Practice. He advises corporations, shareholders, directors and employee stock ownership plan (ESOP) ... »

Corey Rosen

NCEO founder and senior staff member

Griffin O'Gara

Griffin F. O'Gara is an Associate in Krieg DeVault's Employee Benefits and Executive Compensation Practice. Mr. O'Gara primarily devotes his practice to ... »

James G. Steiker

Jim is Co-Chair of Stevens & Lee's ESOP Group and Chairman of SES ESOP Strategies, with over 35 years of experience in ESOP design, transactions, and ... »

Lauren Wood

Lauren Wood, Associate Attorney at Employee Benefits Law Group PC Guidance, is involved in several areas of employee benefits with a primary focus on issues ... »