California Federal Judge Grants Partial Dismissal In Employee Stock Plan Dispute
(April 27, 2016, 1:27 PM EDT) -- LOS ANGELES — Allegations that the administrator and trustees of an employee stock ownership plan (ESOP) breached their fiduciary duties under the Employee Retirement Income Security Act by failing to monitor various transactions that ultimately diminished stock value were dismissed with prejudice April 18 by a California federal judge (Pamela Carter, et al. v. San Pasqual Fiduciary Trust, et al., No. 15-1507, C.D. Calif.).
(Order available. Document #54-160511-015R.)
According to U.S. Judge James V. Selna of the Central District of California, plaintiffs in the case “allege...