Summary
: Federal district court makes extensive finding regarding breaches of fiduciary duties for ESOP trustees that caused company to enter heavily leveraged buyout despite falling forecasts and flawed valuations marred by manager conflicts of interest.
Chesemore v. Alliance Holdings, Inc. (I)
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See Also
Management Buyout Fraught With Flawed ESOP Valuations
Federal district court makes extensive finding regarding breaches of fiduciary duties for ESOP trustees that caused company to enter heavily leveraged buyout despite falling forecasts and flawed valuations marred by manager conflicts of interest.