Court ‘Surprised’ by Lack of Expert to Prove Losses to Employee Benefit Plan

Business Valuation UpdateVol. 18 No. 6
Legal and Court Case Update
June 2012
3841 Surgical and Medical Instruments and Apparatus
ESOP valuations

DeFazio v. Hollister, Inc.
2012 U.S. Dist. LEXIS 9063
April 6, 2012
US
Federal Court
California
United States District Court
John Calvin Korschot (plaintiffs); Roger Grabowski (defendants)
Shubb

Summary

Federal district court finds that ESOP trustees breached their fiduciary duties by failing to determine whether permitting the company to repurchase plan stock at book value was “adequate consideration,” but dismissed the plaintiffs’ claims for lack of an ...

See Also

DeFazio v. Hollister, Inc.

Federal district court finds that ESOP trustees breached their fiduciary duties by failing to determine whether permitting the company to repurchase plan stock at book value was “adequate consideration,” but dismissed the plaintiffs’ claims for lack of an ...