ESOP Valuation Based on Purchase Price Desired by Selling Shareholder Fails to Support Reasonably Prudent Investigation

Business Valuation UpdateVol. 8 No. 12
Legal and Court Case Update
December 2002

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9223 Correctional Institutions
922140 Correctional Institutions
breach of fiduciary duty
employee stock ownership plan (ESOP)
Horn v. McQueen
215 F. Supp. 2d 867, 2002 U.S. Dist. LEXIS 14064
July 29, 2002
US
Federal Court
Kentucky
United States District Court
Jeffrey Risius, CPA/ABV, ASA, CFA (for plaintiffs) <br> James Gravitt, CPA (for defendant) <br> Steven Kerrick, CPA (for defendants) <br> Cate Elsten (for defendants
Coffman

Summary

The issue in this case was whether the defendants breached their fiduciary duties to the USCC Employee Stock Ownership Plan (ESOP) participants.

See Also

Horn v. McQueen

Full Text of Court Cases
July 29, 2002

The issue in this case was whether the defendants breached their fiduciary duties to the USCC Employee Stock Ownership Plan (ESOP) participants.