Blog Post September 22, 2021

Defense Authorization Act Provision Makes 100% ESOPs Eligible for Small Business Set-Asides

A potentially major improvement in rules for ESOP defense contractors was included in the Senate Armed Services Committee’s markup of the 2022 National Defense Authorization Act (NDAA, S 2042). An amendment from Sen. Jean Shaheen (D-NH) would provide that the Department of Defense should create a pilot program that would allow companies that are or become 100% ESOP-owned to receive noncompete follow-on contracts for the work, even if they no longer meet applicable small business or other set-aside requirements.
Blog Post July 28, 2023

Discover the Path to Empowering Your Employees through ESOPs

We are excited to present our highly anticipated 1.5-day seminar Is an ESOP Right for You? in New Orleans from October 24–25,2023. As the ESOP landscape grows, this event aims to equip entrepreneurs, business owners, and HR professionals with in-depth knowledge on ESOP transaction structures, plan design, financing, and more.
Blog Post November 15, 2018

District Court Dismisses Lawsuit Against ESOP Fiduciaries at Lifetouch

On November 7, Judge Joan N. Ericksen of the U.S. District Court for the District of Minnesota dismissed a lawsuit filed by Lifetouch ESOP participants who claimed that they were not protected against losses as the photography company faced challenges to its business model.
Blog Post August 25, 2023

DOL Commits to Proposed ESOP Valuation Regulations by End of 2023

ESOP advocates have long urged the Department of Labor (DOL) to establish clear guidelines for adequate consideration requirements in ESOP transactions. Today, Bloomberg Law reported that DOL Assistant Secretary for Employee Benefits Security Lisa Gomez stated that proposed regulations on the ESOP adequate consideration requirements will be issued by year’s end.