Mealey's (December 8, 2021, 2:05 PM EST) -- RICHMOND, Va. — In a Dec. 6 ruling on an Employee Stock Ownership Plan (ESOP) stock purchase that was found to be a prohibited transaction under the Employee Retirement Income Security Act, a Fourth Circuit U.S. Court of Appeals panel affirmed that a retiring CEO was liable as a knowing participant, but reversed the lower court in approving a reduction in the damages award based on debt forgiveness....