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