ERISA profit sharing plan valuation

Issue: ERISA profit sharing plan valuation

Dunbar v. Roy Brothers, Inc., et als., U.S. District Court No. 01-CV11501RCL, Boston, and Massachusetts

Counsel: Denzil D. McKenzie, Martha M. Wishart

We represented the Plaintiff, a participant in the Defendant’s ERISA profit sharing plan. When the Plaintiff fell ill and considered retirement, his employer provided him with false information as to his eligibility, value, and timing of the distributions due to him under the Plan, ultimately denying him a large portion of the benefits under the Plan. The Plaintiff brought suit in United Stated District Court against the Company, the Plan, the company president (as a fiduciary of the plan), and the financial services company that administered the plan. After extensive discovery, our Motion for Summary Judgment was granted. The case was ultimately settled for an undisclosed amount.