The Antioch Company ESOP: A Prudence Playbook for Board Members, Independent Fiduciaries and Conflicted Fiduciaries

Mike Scheier covers how one employee-owned company protected its fiduciaries from an unexpected business downturn through a well-managed ESOP, a prudent transaction structure, fiduciary insurance coverage, and a well-planned court strategy. The lessons from Fish v. GreatBanc and the court’s praise for the fiduciary defendants in a lengthy written opinion have taken on even greater consequence in light of several recent decisions critical of fiduciary conduct that hit the fiduciary defendants with multimillion dollar damage awards.


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