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Sixth Circuit Case Examines Fiduciary Duties in ESOP Transactions
Deloitte & ToucheLink to more items from this source
May 1, 2002
"You know it is not going to be good news for the ESOP fiduciaries when the court rejects one of the fiduciary's arguments by saying determining 'adequate consideration' for a purchase of employer stock is 'not a search for subjective good faith -- a pure heart and an empty head are not enough.' " [Chao v. Hall Holding Company, Inc. (6th Cir. Apr. 3, 2002)]

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