New York Federal Judge Finds Material Facts In Dispute In ESOP Case

Mealey's (October 11, 2016, 10:40 AM EDT) -- NEW YORK — A New York federal judge on Sept. 28 denied both parties’ motions for summary judgment in a case in which the U.S. secretary of Labor alleges that an independent trustee violated the Employee Retirement Income Security Act by approving the sale of a private label denim manufacturer to the Maran Employee Stock Ownership Plan (ESOP), saying that there are several material facts in dispute (Thomas E. Perez, Secretary of Labor, et al. v. First Bankers Trust Services, Inc., et al., No. 12-cv-8648, S.D....
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