Howard v. Shay (remanded to District Court)

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June 12, 1998

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8712 Architectural Services
541310 Architectural Services
ESOP valuations
adequate consideration, erisa
Howard v. Shay (remanded to District Court)
1998 U.S. Dist. LEXIS 23146
US
Federal Court
California
United States District Court
Mr. Chester A. Gougis (for plaintiff) <br> Arthur Young & Company (for defendant)
Tevrizian

Summary

At issue is breach of ESOP fiduciary duties.

See Also

Price Paid PA&E Stockholders

Legal and Court Case Update
July 1998

This is the latest installment in the lengthy saga of Howard v. Shay , a case of ESOP participants suing for undervaluation on termination of the ESOP and sale of its 38.6% stock interest to a trust controlled by the controlling stockholder.