ForensisGroup Employee Stock Ownership Plan (ESOP) Expert Witnesses are adept at working with these qualified defined-contribution employee benefit (ERISA) plans that are designed to invest primarily in the stock of the employer.
Litigation over employee ownership plans has increased since the Supreme Court ruled that “the law does not create a special presumption favoring ESOP fiduciaries. Rather, the same standard of care applies to all ERISA fiduciaries. The Court’s ruling overturned the Moench rule that had been applied to plan fiduciaries for certain 401(k) plans investing in company stock and ESOPs which gave a presumption of prudence to plan fiduciaries unless they knew or should have known the company was in dire financial straits. As a result, public company plan members have called into question the actions of fiduciaries and whether they have breached their duties. Many lawsuits allege that an employer’s fiduciaries of the ESOP violated ERISA and breached their fiduciary duties concerning the administration of the plan. These lawsuits are typically class action on behalf of employees or former employees.
To assist in these claims, ForensisGroup experts provide consultation on 401(k) plans, employee stock ownership, ERISA, and fiduciary responsibilities.
If you are unable to find the ESOP expert that you need in our group, contact our office. We will research and recruit additional experts for your review at no cost. No matter the context of your litigation, we will provide you with a credible ESOP expert witness perfect for the specifics of your case.