Bailey Glasser’s ERISA team achieved another litigation win in the fight to protect employee retirement funds. In an order issued Tuesday, a North Carolina federal judge denied industrial refrigeration company, Morris & Associates’ motion to dismiss former CEO Bryan John’s ERISA case that alleged the company mismanaged an employee stock ownership plan by grossly undervaluing the business.
Bailey Glasser partner Mark Boyko was quoted in the Law360 article, “3 Arguments, Hearing Benefits Attys Should Watch in Feb.,” commenting on the significance of a new theory of liability under ERISA against Clorox Co. in a California federal court. The case challenges the company’s use of 401(k) forfeitures, created when employees leave before fully vesting, to offset corporate contributions into the plan.
Another win on behalf of protecting company employees’ hard-earned money: today, our ERISA team defeated a motion to dismiss that challenged a class action brought on behalf of a class of investors in the Churchill Holdings, Inc. Employee Stock Option Plan where we alleged that the trustees breached their fiduciary duties and engaged in prohibited transactions in violation of ERISA law.
Join Bailey Glasser Partner Patrick Muench December 12, 2023, at 1pm EST for a virtual webinar discussion on ERISA litigation involving Employee Stock Ownership Plans (“ESOPs”) hosted by the American Bar Association’s Joint Committee on Employee Benefits. This event will include a review of some common areas of dispute in ESOP cases and a summary of trends and recent court decisions.
Today we announce that 42 Bailey Glasser lawyers have been recognized across various categories (including one as a “Lawyer of the Year”) in the 30th edition of The Best Lawyers in America® and the fourth edition of Best Lawyers: Ones to Watch in America®.
