Rick Pearl is a partner at Faegre Drinker and a trusted authority on ERISA and ESOP matters. His practice focuses on representing a wide range of clients, including trustees, plan sponsors, and shareholders, in complex ERISA litigation. He has earned national recognition for his thought leadership, particularly in ESOP litigation, and has deep expertise in areas such as ERISA standards for ESOP stock purchases and sales, valuation standards, and prohibited transactions. A prolific researcher, writer, and speaker, Rick's insights have been featured in numerous publications and he is a regular at national conferences.
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.
Rick Pearl
In August of 2024, a federal district court entered judgment in the Department of Labor’s (DOL) favor and against certain defendants in a case involving RVR, Inc., d/b/a Cruise America, and the RVR Inc. Employee Stock Ownership Plan (ESOP). The judge determined that the $105 million ESOP transaction was overvalued by $72 million.
