C. Richard Brown v. American Life Holdings, Inc.
Court of Appeals for the Eighth Circuit
1Opinion of the Court
LOKEN, Circuit Judge.
C. Richard Brown was a participant in The Statesman Group, Inc. Employee Stock Ownership Plan (the “ESOP”), an ERISA plan sponsored by his former employer, American Life Holdings, Inc. An Administrative Committee appointed at will by American Life administered the ESOP. Bank One of Indianapolis as trustee held the Plan assets in trust for participants and beneficiaries. In this action, Brown alleges that American Life, certain Administrative Committee members, and Bank One (i) breached their ERISA fiduciary duties by investing the ESOP’s assets in overly conservative…
2Cases cited13 opinions
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