SBC/Airtouch

[Bruce Steiner]

In the news stories about the sale of the stock of the former employer/now competitor from the qualified plans, the discussion focused upon the investment decision and whether the sale was made based upon the interests of the employer rather than the interests of the participants, and whether the participants should have been given the opportunity to roll the stock into their own IRAs.

But I didn't see any discussion of the special tax treatment for employer stock.

Is or could that also be an issue in the case?

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Bruce Steiner, attorney

(212) 986-6000 (NY office)

(201) 862-1080 (NJ office)

also admitted in FL

[Guest]

I'm not sure that the stock would have qualified as "employer securities" for the PacBell (SBC?) folks. I'm not sure whether PacBell owned 50% + of Airtouch . . .