Ex-Orion CEO Wants Surviving ERISA Claims Tossed

Law360, New York (October 14, 2011, 6:16 PM EDT) -- The former CEO of failed Orion Bancorp Inc. on Friday asked a judge to reconsider allowing a handful of employee claims in a putative class action alleging the company failed to disclose its declining financial stability while encouraging employees to invest in company stock.

Jerry Williams said his decision to sell about $1 million in company stock to the company's retirement plan — a move that forced the plan to take on debt — is not in itself a violation of the Employee Retirement Income Security...
To view the full article, register now.




Case Information

Case Title

Smith et al v. Orion Bancorp, Inc. et al

Case Number



Florida Middle

Nature of Suit

Labor: E.R.I.S.A.


John E. Steele

Date Filed

April 29, 2010

Law Firms


Government Agencies

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.