We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Virginia Federal Judge Grants Partial Summary Judgment To ESOP Participant

Mealey's (November 9, 2016, 11:30 AM EST) -- ALEXANDRIA, Va. — A Virginia federal judge on Nov. 3 granted partial summary judgment to an employee stock ownership plan (ESOP) participant on his claim that a trustee violated the Employee Retirement Income Security Act by conducting a transaction with a “party in interest” but said that the holding does not mean defendant Wilmington Trust N.A. is liable because it has properly raised a Section 1108 affirmative defense (Tim P. Brundle, et al. v. Wilmington Trust N.A., No. 1:15-cv-1494, E.D. Va.; 2016 U.S. Dist. LEXIS 152908)....
To view the full article, register now.