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Court Finds for Department of Labor in Key Employee Stock Ownership Plan Dispute

Month: September 2019

Court Finds for Department of Labor in Key Employee Stock Ownership Plan Dispute

Posted on September 9, 2019April 27, 2022 by Andrew Abbott

In 2016, the Department of Labor (DOL) challenged a 2010 acquisition of the remaining 52% of shares of Sentry Equipment Erectors Inc. by its Employee Stock Ownership Plan (ESOP), claiming it overpaid in its $21 million purchase of the shares from company owner Adam Vinoskey, who was also an ESOP Trustee.

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