Legal Opinion
Horn v. McQueen
District Court, W.D. Kentucky
Decided December 1, 2004No. CIV.A. 98-591-CPublishedCited by 2 opinions
1Opinion of the Court
ORDER
COFFMAN, District Judge.
On July 29, 2002, this court found the defendants liable for breach of fiduciary duty in their roles as trustees of an employee stock ownership plan (“ESOP”) in violation of ERISA § 406, 29 U.S.C. § 1106. Horn v. McQueen, 215 F.Supp.2d 867 (W.D.Ky.2002). 1 The court determined that in the case of such a breach, “loss will be measured as the difference between what the ESOP paid for the USCC stock and its fair market value at the time of transaction, plus interest.” Id. at 881-. The court found that the ESOP borrowed a total of $34,427,353 to acquire approximately…
2Cases cited34 opinions
- Massachusetts Mutual Life Insurance v. RussellSupreme Court of the United States · 1985
- Mertens v. Hewitt AssociatesSupreme Court of the United States · 1993
- Great-West Life & Annuity Insurance v. KnudsonSupreme Court of the United States · 2002
- Burton-Sutton Oil Co. v. CommissionerSupreme Court of the United States · 1946
- Chao v. Hall Holding Company, Inc.Court of Appeals for the Sixth Circuit · 2002
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3Cited by2 opinions
- Acosta v. VinoskeyDistrict Court, W.D. Virginia · 2018
- Mesquite v. AdorCourt of Appeals of Arizona · 2022