Fiduciary Lessons From DOL's Win In Employee Stock Case

By Gregory Brown, William Delany, Louis Joseph and Chelsea McCarthy ( September 9, 2019, 3:46 PM EDT) -- In Acosta v. Vinoskey et al., the U.S. District Court for the Western District of Virginia recently awarded the Sentry Equipment Erectors Inc. employee stock ownership plan $6.5 million for the ESOP's overpayment for the founding shareholder's 52% interest in Sentry Equipment Erectors. The selling shareholders (Adam Vinoskey and a related trust) and the ESOP trustee were held jointly and severally liable.[1]...

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