Defendants Seek Dismissal Of ERISA Fiduciary Duty Row Involving ESOP, Dividends

Mealey's (January 10, 2023, 7:02 AM EST) -- MINNEAPOLIS — Arguing lack of standing and that all claims are premised on an “implausible theory of an improper use of Preferred Stock or Common Stock dividends,” defendants moved in Minnesota federal court for dismissal of a putative class suit concerning a leveraged employee stock ownership plan (ESOP) fund....