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Reliance Let ESOP Overpay In $280M Deal, DOL Says

By Danielle Nichole Smith (April 23, 2019, 3:18 PM EDT) -- The U.S. Department of Labor has accused Reliance Trust of violating federal benefits law by allowing Bradford Hammacher Group's employee stock ownership plan to pay tens of millions of dollars too much for the retail company's outstanding shares in a $280 million deal....

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