Anonymous Plaintiffs v. ESOP Plan Trustees
In this case, we represented two plan trustees of an ESOP on claims that were brought against them for breach of fiduciary duty and claims challenging the value of stock which had been sold by the plan trustees to the ESOP. The plaintiffs were seeking over $30,000,000. Our representation of our clients began after judgment had been entered against the defendants on liability, but prior to a determination of damages. The matter was settled.
Counsel to ESOP Trustee
Dinsmore & Shohl represented the ESOP Trustee in the sale of Triple T Transport, Inc. to its employees in an ESOP buyout. Our firm negotiated with company counsel, representatives of Triple T's executive management team and CSG Partners, LLC, the company's exclusive financial advisor, to complete the transaction. The ESOP sale provides liquidity and tax benefits for the company as well as benefits for the employees who, as owners, now share in the company's future success.