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ABA
Joint Committee on Employee Benefits
The Sections of Business Law, Health Law, Labor and Employment
Law,
Real Property, Probate and Trust Law, Taxation and Tort Trial
and Insurance Practice
and The American College of Employee Benefits Counsel Present
Enron Part Two:
Directed Trustees and Employer Stock
A 90-minute Teleconference / Audio
Webcast
Tuesday, January
27, 2004
1:00-2:30 pm ET / 12:00-1:30 pm
CT / 11:00 am-12:30 pm MT / 10:00 am-11:30 am PT
This program has
already taken place.
Audiotapes are available for $150.
For ordering information, contact Nancy Matthews at matthewsn@staff.abanet.org
or (202) 662-8640.
Ref. #JCEBT04012ENRA
The stock market downturn and claims of
corporate fraud have led to an explosion of claims regarding
401(k) and ESOP investments in employer stock. In addition
to suing the company fiduciaries, Plaintiffs are also suing
directed trustees, claiming they had duties to override their
directions or take some other action regarding plan investments
in employer stock. The first round of cases have come out
- with decidedly mixed results for both plaintiffs and for
directed trustees. In this Part Two of two teleconferences
dealing with these cases, hear from leading practitioners
and the DOL on cutting-edge issues, including:
Topics Include:
- Is a directed trustee a fiduciary and, if so, to
what extent and for what actions?
- Litigation pragmatics: Why sue a directed trustee
when you have company fiduciaries?
- What standard controls a directed trustee's review
of a direction: Clear on it's face? Knowledge or "red
flag"?
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- What are a directed trustee's duties during a lockdown?
- What can or should a directed trustee do if it has
"red flags" of problems?
- Business pragmatics: How may adverse rulings affect
the structure of the relationship and plan costs?
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Moderator
Elizabeth Hopkins, U.S. Department of Labor, Counsel
for Appellate and Special Litigation, Washington, DC (Invited)
Speakers
John J. Cleary, Goodwin Procter, LLP, Boston MA
Jeffrey G. Lewis, Lewis & Feinberg PC, Oakland,
CA
Robert Rachal, Shook Hardy & Bacon, LLP, New Orleans,
LA
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