August 05, 2022

Rick Pearl Addresses Seventh Circuit ESOP Ruling With Law360

In a Law360 article on a recent Seventh Circuit decision, benefits and executive compensation partner Rick Pearl discussed how the ruling shows that certain stock-drop claims against public company employers can be avoided through the use of an independent fiduciary to oversee the plan.

“This is really a good decision because the court is essentially saying that if you make a designation, you’re done,” said Pearl. “You’re done with those matters that are designated; you just have to oversee the party to whom you’ve delegated fiduciary responsibility at reasonable intervals. That’s what’s really most important here.”

The full article is available for Law360 subscribers.

Full Article

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