ESOP Fraud Archives | Donahoo & Associates

ERISA Lawsuit Filed Against Wawa Convenience Store Chain

On February 1, 2016 a lawsuit was filed in federal district court alleging Wawa, Inc. violated ERISA laws when administering its Employee Stock Ownership Plan (ESOP). Plaintiff Greg Pfeifer alleges he and more than 3,000 other former employee participants in the plan, each who had a balance of more than $5,000, were divested from the ... Read More

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SCOTUS Rejects Presumption of Prudence Standard in ESOP Cases

In a win for employees, on June 25, 2014 the United States Supreme Court issued its ruling in the highly anticipated case, Fifth Third Bancorp v. Dudenhoeffer, and rejected the presumption of prudence standard in ESOP stock-drop cases.  For years, federal courts have followed a standard of presumption of prudence in ESOP stock-drop cases and ... Read More

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Employee Remedies for ESOP Fraud

Recently the Wall Street Journal featured three articles related to Employee Stock Ownership Plans (ESOP) and valuation practices that put employees’ retirement funds at risk.  These articles discuss increased scrutiny by the federal government to ensure that employees are not cheated in their ESOP retirement funds. They also describe the challenges in proper valuation for ... Read More

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Donahoo & Associates ESOP Case Featured in Wall Street Journal

Today's Wall Street Journal features our recent ESOP case brought on behalf of our client John Vincent and over 200 other former employees of Southern California Pipeline Construction.  We were pleased to obtain a successful result for our clients to recover their ESOP retirement benefits. Read the article "U.S. Increases Scrutiny of Employee-Stock-Ownership Plans" to ... Read More

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