Participant Gregory K. Brown and Louis L. Joseph Alert Clients

Courts are beginning to make decisions regarding participant motions to invalidate or limit the effect of retirement plans and ESOP mandatory arbitration provisions

Gregory K. Brown and Louis L. Joseph, members of the family of ESOP lawyers and advisors, have recently released a client alert to inform their clients of the impact of recent court cases on the mandatory arbitration provisions of retirement plans and ESOPs.

The highlights of their Client Alert are as follows:

  • Some retirement plans, including employee stock ownership plans (ESOPs), have in the past few years included terms and provisions that require participant breach of fiduciary claims to be resolved in arbitration on a participant-by-participant basis together with a class action waiver.
  • The validity and effect of these mandatory arbitration provisions have been challenged, and the courts are beginning to define the extent to which those provisions have effect.
  • Mandatory arbitration provisions are not a simple matter and should be adopted only after a plan sponsor has carefully considered a number of factors.

The rest of their informative Client Alert can be read on the author’s profiles at

Jack Veale, the founder of, said, “We are glad that Gregory and Louis are diligently informing their clients and the ESOP community at large of court decisions that impact how ESOP transactions are structured and managed.”

About ESOP Marketplace is a community of multi-disciplined ESOP Advisors who have a successful history of assisting business owners with their ownership transition. is designed to guide business owners and their local advisers or key managers to select the best choices for the selling shareholder or other stakeholders.


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