Adkins v. Florida

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• observing that section 1104 only applies to “transactions that involve investing the ESOP’s assets or administering the plan.”
• observing that this rule exists because the “potential for disloyal self-dealing” is “inherently great when insiders act for a closely held corporation’s ESOP”
• noting that although “[a]n employer’s business decisions will often indirectly affect an ERISA plan or its beneficiaries,” individuals “who make such corporate decisions” and who “also happen to be ERISA fiduciaries” are not subject to liability under ERISA section 404
• affirming permanent injunction against defendants who “repeatedly used their fiduciary control over the [employee stock ownership plan’s] assets to profit from self dealing”

Source: CourtListener parenthetical corpus (CC0).