Employee Ownership Legal Digest

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Court Permits Most Claims in Hollandia ESOP Suit to Proceed

Christopher Wingard

At the motion to dismiss stage, a North Carolina federal district court permitted most ERISA fiduciary-breach claims, brought by former Hollandia Produce Group, Inc.’s employees on behalf of the company’s ESOP, to proceed against GreatBanc Trust Company (the ESOP trustee); Mosaic Capital Investors I, LP; True West Capital Partners Fund II, L.P.; certain other defendants; and attorney Michael Zeller.

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Meet Our Authors

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Headshot of Alan H. Kandel

Alan H. Kandel

Alan H. Kandel is a Partner at Husch Blackwell specializing in Employee Benefits and Executive Compensation. He counsels a wide variety of clients—including ... »

Headshot of Allison Wilkerson

Allison Wilkerson

Allison is a Partner at McDermott Will & Schulte in Dallas, where she focuses her practice on employee benefits matters with extensive experience in ERISA ... »

Headshot of Christopher Wingard

Christopher Wingard

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

Headshot of Corey Rosen

Corey Rosen

NCEO founder and senior staff member

Headshot of David Joffe

David Joffe

David is a Partner and Chair of the Employee Benefits & Executive Compensation Practice Group at Bradley Arant Boult Cummings in Nashville. He advises ... »

Headshot of Griffin O'Gara

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 ... »

About the Legal Digest

This digest provides timely and concise recaps 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. Every entry is written and reviewed by leading ESOP attorneys through our Attorney Working Group—ensuring you get accurate, practical insights you can trust.