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DOL sues Target Directors for Breach of Fiduciary Duties in ESOP Transaction

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,

Posted in director liability, independent trustee, sale of business to ESOP

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