Associate Chris Wingard authored an article in The Legal Intelligencer on ESOP case developments across several key areas. The article explains that despite the many succession-planning, tax, and employee-retention benefits, ESOPs often face litigation scrutiny. Fortunately, the US Department of Labor has softened its stance on ESOPs and the current regulatory environment is favorable. The article outlines important areas of litigation, including disputes regarding the sale of ESOP companies, plan investments in non-company stock, prohibited transaction pleading standards, and the enforceability of arbitration clauses.
To read the full article, click here.
