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ESOPs Feel Heat from Campaign Against Abuses
Pensions & Investments Link to more items from this source
Mar. 4, 2013

"A Department of Labor push to curb employee stock ownership plan abuses is catching more plan sponsors and their fiduciary consultants for a variety of transgressions. Those transgressions include overvalued stock, ill-timed stock purchases, conflicts of interest and outright plan mismanagement.... 'The number of lawsuits in the past six months is unprecedented,' [said] J. Michael Keeling, president of the ESOP Association in Washington[.]"

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