Employee Benefits: Employer Pays More Than $28 Million To Settle Claim That It Improperly Valued ESOP Shares; Precautions To Take
A new threat facing employers is an increase in complex and costly litigation over the handling of employee benefit plans. The potential liability can be substantial, as Occidental Petroleum recently discovered when it agreed to pay $25 million, plus another $3.5 million in attorneys’ fees and expenses, to settle such a dispute. The class action […]