Did ESOP Fiduciary Breach Duties by Relying on Year-Old Appraisal?

Business Valuation UpdateVol. 17 No. 2
Legal and Court Case Update
February 2011

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5199 Nondurable Goods, NEC
ESOP valuations
McCabe v. Capital Mercury Apparel
2010 WL 4507443(S.D. N.Y.)
November 9, 2010
US
Federal Court
New York
United States District Court
Houlihan Lokey
Scheindlin

Summary

ESOP administrator did not breach duty of care when relying on an appraisal that valued the company a year before its eventual liquidation and sale.

See Also

McCabe v. Capital Mercury Apparel

Full Text of Court Cases
November 9, 2010

ESOP administrator did not breach duty of care when relying on an appraisal that valued the company a year before its eventual liquidation and sale.