ESOP Transactions

/Tag: ESOP Transactions

Paper company sued over ESOP transactions

The fiduciary of the Appvion Inc. Retirement Savings and Employee Stock Ownership Plan sued the bankrupt paper company's former management team, its board of directors and a slew of advisers for allegedly inducing employees to take money out of their 401(k) accounts to purchase 100% of the stock of Appvion's parent company, Paperweight Development Corp.

Legend Seeds Now Employee Owned

As of Aug. 1, Legend seeds is an employee owned independent seed company. It was founded in 1990 by Glen and Janet Davis and had been family owned until this recent switch. Legend Seeds employs more than 100 people in the upper Midwest. The new Employee Stock Ownership Plan gives all employees ownership in the