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Eleventh Circuit: ESOP's Failure to Honor Plan Diversification Election Was Arbitrary and Capricious
Wolters Kluwer Law & Business 
Aug. 20, 2018 "[T]he employer contended that the plan administrator's decision was supported by the fact that the Federal Reserve Bank had prohibited it from redeeming its stock. However, the appellate court, like the district court, rejected that argument as a post-hoc explanation for denying the participants' elections to diversify." [Bryant v. Community Bankshares, Inc., No. 17-15360 (11th Cir. June 12, 2018)] MORE >> |
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