Find Your Resource

Under ERISA, the ESOP trust is the legal owner of the shares in an ESOP. The trustee votes these shares, usually at its discretion but occasionally at the direction of plan participants. That includes voting for the board.

I know I’m mortal. So I started exploring my exit options in 1990, only seven years after I bought the company from its founder, JW McKinney.

One of the most contested and significant ESOP lawsuits in recent years was Perez v. GreatBanc Trust, which resulted in a $5.25 million settlement over the handling of the ESOP at Sierra Aluminum. This article gives some overlooked background about Sierra Aluminum's ESOP. 

HIGHLIGHTS: ERISA supersedes state tax law

HIGHLIGHTS:  

HIGHLIGHTS:

HIGHLIGHTS: Supreme Court won’t hear challenge to extension of tolling in ESOP case 

HIGHLIGHTS: ● New DOL Fiduciary Settlement Agreement on ESOPs

Reliance Trust and DOL reach settlement on Tobacco Rag suit: In  Acosta v.

Department of Labor Brief in IBM Stock Case Argues Securities Law Rules Should Be the Basis for Whether to Disclose Adverse Information: