A company’s founders (and sole directors) contest DOL allegations that they failed to prudently monitor the independent ESOP trustee’s duty to not overpay for the stock. M&A Stories June 17, 2021 Introduction An exit strategy for an owner of a…
A company’s founders (and sole directors) contest DOL allegations that they failed to prudently monitor the independent ESOP trustee’s duty to not overpay for the stock. M&A Stories June 17, 2021 Introduction An exit strategy for an owner of a…
DOL claims that independent ESOP trustee overpaid for the majority owner’s stock and sued the company’s directors for breach of fiduciary duty. The purchase price was 2.5 times higher than the prior 5 years ESOP valuations. M&A Stories March 29,…
Introduction One exit strategy for a business owner is to sell your company to an ESOP; especially if there are no serious buyers. However, those transactions are highly regulated by the federal government and must be done right. The deal…
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