Read more about Axis Bank allots 97,750 equity shares under ESOP on Business Standard. The paid up share capital of the Bank will accordingly increase Rs. 612,31,49,534 (306,15,74,767 equity shares of Rs. 2/- each) to Rs. 612,33,45,034 (306,16,72,517 equity shares of Rs. 2/- each).
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Associated Banc-Corp Accused of Self-Dealing in ERISA Lawsuit
Participants have filed a suit alleging the bank used its retirement plan to promote its investment products.
Reported by
Participants in the Associated Banc-Corp 401(k) and Employee Stock Ownership Plan have filed an Employee Retirement Income Security Act (ERISA) lawsuit against Associated Banc-Corp and its retirement plan administrative committee for “applying an imprudent and inappropriate preference for products associated with Associated Bank within the plan, despite their poor performance and lack of traction among fiduciaries of similarly sized plans.”
The plaintiffs also allege that the defendants failed to monitor or control the plan’s recordkeeping expenses, which were paid to Associated Bank’s subsidiary, costing the plan millions of dollars in excessive administrative fees.