Chao v. Hall Holding Co., Inc.
In her complaint, the Secretary alleged that various components of an employee stock ownership plan (hereinafter "ESOP") for the benefit of employees of a subsidiary of Hall Holding Company violated the Employee Retirement Income Security Act.
Parrott v. Coopers & Lybrand, L.L.P.
At issue is the valuation of employee's stock after termination and breach of fiduciary duty by the majority shareholder.
Accountants for Company Not Liable to Terminated Employee
This accountant malpractice action arose as a result of the plaintiff's efforts to obtain a higher price for his 40,500 shares of stock of Pasadena Capital Corp., an investment advisor firm.
Expert Qualifications Key to Court Decision
The primary issue in the ESOP litigation the Secretary of the United States Department of Labor (DOL) filed is the fair market value of the Hall Holding Co. stock the Hall Holding ESOP purchased.
Reich v. Hall Holding Company, Inc.
At issue is the fair market value of the Hall Holding stock purchased by the Hall ESOP.
Adjustments Required to Value Holding Company Stock
The primary issue in this ESOP litigation is the fair market value of the Hall Holding Co. stock the Hall Holding ESOP purchased.
Harper v. Lovelace
At issue is whether or not Caldwell's Board of Directors violated their fiduciary duty to appellants in the course of negotiating the sale of Caldwell to Contech.
Shareholder Dispute Cases
In this case, the court upheld a Chancery Court decision that the board of directors of a company did not violate its fiduciary duty in organizing the sale of the company's stock to a competitor.
Matassarin v. Lynch
The plaintiff in this case, the wife of a former ESOP participant, claimed that the employer violated various securities laws in connection with ESOP's interpretation of the qualified domest ...
Matassarin v. Lynch
The plaintiff in this case, the wife of a former ESOP participant, claimed that the employer violated various securities laws in connection with ESOP's interpretation of the qualified domestic relations order.
Hintmann v. Weber (II)
At issue is the valuation of petitioner's ESOP-held shares.
Special Master Appointed to Resolve Calculations
This is a follow-up to the Chancery Court's opinion dated Feb. 17, 1998, on petitioners' Petition for Appraisal of ESOP-held shares.
Price Paid PA&E Stockholders
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.
Howard v. Shay (remanded to District Court)
At issue is breach of ESOP fiduciary duties.
Reich v. Hall Holding Company, Inc.
At issue is breach of fiduciary duty and the valuation of stock as defined by ERISA.
ESOP Forms in Contention While Stock Value Plunges
The Food for Less ESOP provides for annual valuation of the stock, or more, often if the committee believes the value of the stock has changed substantially.
9th Circuit Denies PA&E Case Rehearing
In our December issue (pp. 11-12), we reported that the 9th Circuit reversed the District Court in Newman Howard v. Edward A. Shay and that defendants had filed a petition for rehearing by the 9th Circuit en banc.
Howard v. Shay (Supreme Court)
Petition for a writ of certiorari from Ninth Circuit opinion to U.S.Supreme Court is denied.
Mitchell v. Falley's
One issue in this case is whether the defendant's ESOP was required to pay plaintiffs based upon the December 31, 1991 valuation as opposed to a subsequent valuation date.
More Court Cases … ESOP: Faircloth
The court found that Lundy Packing Co., the ESOP administrator and trustee, were not required to disclose the ESOP appraisal report, despite it being requested by the participants.
9th Circuit Reverses PA&E District Court Decision
Pacific Architect and Engineers Inc. (PA&E ) ESOP sold its 40% stock interest to a family trust established by the stockholder, Edward Shay, who owned the other 60%.
Howard v. Shay (US Appeals Court)
At issue is the valuation of a real estate holding company.
Control Stockholder Held Liable in Failed ESOP
Effective in December 1996, Gary Eyler, the controlling stockholder of Continental Training Services (CTS), sold 689,655 shares of CTS stock (about 14% of the outstanding shares) to a newly formed ESOP for $14.50 per share, or about $10 million, financed by a loan from American Fletcher National Bank.
Faircloth v. Lundy Packing
At issue is whether the appellee, an ESOP administrator, should have furnished certain documents to the appellants, three participants in the ESOP.
Eyler v. Commissioner
At issue is whether Eyler, as the majority owner of CTS stock, engaged in a prohibited transaction with CTS's employee stock ownership plan (ESOP) when he sold $ 10 million worth of CTS stock to the ESOP.