Stanley Bulua, chairperson of Robinson Brog's ESOPs, Estate Planning and Estate Administration, and Taxation Departments is the author of an Article titled "Fifth Circuit Affirms District Court Judgment in Favor of DOL, Participants" published in the May/June edition of the ESOP Association Report.
In the Article, Mr. Bulua discusses the Fifth Circuit Court of Appeals opinion in the consolidated actions of "Perez v. Bruister," and "Rader and Sealy v. Bruister," brought by the Department of Labor and by two participants in the Bruister and Associates, Inc. ("BAI") Employee Stock Ownership Plan (the "ESOP"). The consolidated claims alleged breach of fiduciary duty and prohibited transaction violations under ERISA against the ESOP trustees, in connection with certain stock transactions in which the ESOP acquired BAI stock.
A link to the article can be found here.
For more information on the Article, or ESOPs generally, please email Mr. Bulua at email@example.com, or call him at (212) 603-6311.