U.S. Court of Appeals for the Fourth Circuit
Tim Brundle v. Wilmington Trust, N.A.
This writing
- Type
- Opinion
- Filed
- March 21, 2019
- Case
- Tim Brundle v. Wilmington Trust, N.A.
- Case status
- Decided
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Opening text
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DIANA GRIBBON MOTZ, Circuit Judge: After owners of a closely held corporation sold the company to its Employee Stock Ownership Plan ("ESOP"), a participant in the ESOP brought this action. The participant contended that the trustee chosen for the ESOP by the corporation breached its fiduciary duties to the ESOP and overpaid for the stock - improperly enriching the corporation's owners…
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