ESOP valuations: How much is too much?
Abstract: The U.S. Department of Labor recently suffered a resounding defeat in Walsh v. Bowers. This article explains why a federal district court rejected the DOL’s claim that an employee stock ownership plan (ESOP) overpaid for the sponsoring company’s stock. Walsh v. Bowers, No. 18-00155 SOM-WRP (D. Hawaii Sept. 17, 2021).