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Illinois Court Strikes Down ESOP's Arbitration Provision | Polsinelli


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Over the past few years, qualified retirement plans, including employee stock ownership plans (ESOPs) have been adding provisions requiring participant breach of fiduciary duty claims to be resolved through mandatory arbitration on an individual basis rather than through the courts or on a class basis. One reason for doing so is to prevent plaintiffs from bringing spurious lawsuits that contain sufficient facts to survive a motion to dismiss, which would lead to expensive discovery exercises. The risk of such expense could create an incentive for ESOP fiduciaries to agree to substantial settlements to avoid the cost of further litigation regardless of the underlying merits of the allegations. However, there are downsides to having such mandatory arbitration provisions, including the risk of facing a non-appealable adverse arbitration decision and its impact on the ESOP, the ESOP sponsor and the ESOP fiduciaries. Whil ....

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Biz Beat: Kitty Night Kristmas, Md. Business Innovation, Hollywood Casino to change hands


Happening this week around the county …
Kitty Knight House at 14028 Augustine Herman Highway in Georgetown wants to make the holidays easier by offering a feast you can pick up and take home, ready to heat and eat.
Watch what they did here: It’s the
Kitty Knight Kristmas Kits with Kontactless Kurbside pick up. Pick up on the 24th for $24.
K?
Baked honey ham, Yukon Gold mashed potatoes, cranberry apricot stuffing, roasted parmesan Brussels sprouts, dinner rolls, house or Caesar salad and your choice of apple or pumpkin pie.
Order online at Kittynight.com/Events or call 410-648-5200.
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The Maryland Department of Commerce, in conjunction with Maryland Business Innovation Association, is launching a program it hopes will lead to innovative solutions for real time business challenges. ....

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