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New York Federal Judge Awards $2.5 Million In Fees In ESOP Case

Mealey's (October 6, 2016, 1:17 PM EDT) -- ROCHESTER, N.Y. — A New York federal judge on Oct. 4 awarded more than $2.5 million in attorney fees, costs and class representative awards in a case alleging that various fiduciaries violated the Employee Retirement Income Security Act by permitting the Eastman Kodak Employees’ Savings and Investment (SIP) and Kodak Employee Stock Ownership Plans (ESOP) to offer Kodak stock as an investment option even after an objective investigation would have revealed that the stock represented an “extremely risky investment” (In re:  Eastman Kodak ERISA Litigation, No....
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