Our employee benefits group works with clients of all sizes in the design, implementation, and administration of Employee Stock Ownership Plans (ESOPs). ESOPs can provide a vehicle for business, family and management succession planning that allows owners to liquidate all or part of their ownership and diversify their investment holdings on a tax-advantaged basis. However, effective use of ESOPs for these purposes requires knowledge and experience concerning regulatory oversight, governmental audits and investigations, and prospective guidance. We have earned this knowledge and experience by navigating these issues for our corporate clients, as well as in representing ESOP fiduciaries, including trustees and administrative committees. We will assist you in ensuring your compliance with ESOP fiduciary duties and prohibited transaction rules.
We also help clients with ESOP litigation in federal and state trial and appeals courts, bankruptcy courts, tax court, arbitrations, mediations, Department of Labor investigations, and Internal Revenue Service audits. In doing so, we represent the interests of the company sponsoring the ESOP, their directors and officers, plan administrators and trustees, valuation advisors, consultants, investment bankers, lenders, accountants and other professional advisors. We are very proud of our record of successful management and defense of alleged ERISA violations and investigations our clients have faced, and we truly understand the gravity of regulatory compliance and how to stay ahead of such issues.