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U.S. Labor Department Concludes Settlement Restoring $32 Million to Tribune Co. Employee Stock Ownership Plan
Employee Benefits Security Administration [EBSA], U.S. Department of Labor [DOL] 
Feb. 24, 2012
[I]nsurance carriers have completed funding of a global settlement in the amount of $32 million to be allocated among the Tribune Employee Stock Ownership Plan's participants, and to pay for legal and administrative expenses.... The department [had] claimed that the company failed to act prudently and in participants' best interests when it engaged in the ESOP transaction. Additionally, the department [had] claimed that the ESOP transaction was prohibited, a claim consistent with the findings of the district court in the private plaintiffs' action.
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