Employee Benefits and Trust Litigation
If you want more information about the Constellis ESOP, please click here.
Bailey & Glasser LLP handles class actions and high stakes individual actions involving employee pension benefits—including employee stock ownership plans (ESOPs), 401(k) plans and other defined contribution or individual account plans, and traditional defined benefit pension plans—and trust litigation involving family and other private trusts. We litigate these actions throughout the United States under the federal employee benefits law known as the Employee Retirement Income Security Act (ERISA) and under state trust law. Our clients include employees, former employees, retirees, and trust beneficiaries, as well as businesses and other professionals victimized by fraud, investment mismanagement, hidden and undisclosed fees, and illegal benefit cut-backs. Over the past several years we have recovered hundreds of millions of dollars for our clients in litigation claiming breaches of fiduciary duty, prohibited transactions, and other violations of the law.
We represent employees, participants and beneficiaries in 401(k) plans and other defined contribution plans in class action cases against employers, asset managers, trustees, and other fiduciaries who make imprudent investment decisions, cause high plan fees, operate under conflicts of interest, and self-deal. more …
Employee stock ownership plans (ESOPs) are pension plans that invest in employer stock. Each participant in an ESOP has an individual account to which employer stock is allocated according to the plan’s terms. The Firm’s Employee Benefits and Trust Litigation Group has prioritized ESOP litigation to protect workers from outsized debt and plummeting stock valuations after company owners sell stock to an ESOP above its fair market value, with the assistance of hand-picked trustees and valuators. We also represent ESOP participants when the trustee makes the ESOP sell employer stock for less than fair market value. more …
Bailey & Glasser LLP has a varied practice involving traditional defined benefit pension plans. Pension plans typically promise fixed monthly payments during retirement based on years of service and average wages or salary. more…
We represent beneficiaries in individual, representative, and class actions against trustees, investment managers, and other fiduciaries who misuse or mismanage trust assets. more …