After 16-Day Bench Trial, Judge Finds ESOP Price Too High, Rules Against Sellers

(August 30, 2024, 8:51 AM EDT) -- PHOENIX — Ruling that leaders of a recreational vehicle company breached their duties under the Employee Retirement Income Security Act in a $105 million employee stock ownership plan (ESOP) deal, an Arizona federal judge said the 16-day bench trial showed that the fair market value of the equity “was less than half” of what the ESOP paid....