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Employee Stock Ownership Plan Participant Cannot Pursue Fiduciary Breach and Bad Faith Claim Against Insurer of Plan Fiduciaries (PDF)
Wiley Rein LLP
Oct. 27, 2016 "Applying Mississippi law, a federal district court has held that a participant in an employee stock ownership plan cannot pursue his claims against the insurer of the plan fiduciaries because those claims were previously released in a settlement agreement between the plan fiduciaries and the insurer.... In so deciding, the court explained that the dispute was whether the agreement actually released the plan fiduciaries' claims, whether the agreement constitutes an unenforceable anticipatory release, and whether the agreement is unconscionable." [Sealey v. Beazley Ins. Co., Inc., No. 15-768 (S.D. Miss. Aug. 16, 2016)] MORE >> |
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