01/03/2014
Executives of Parrot Cellular, a Central Valley and Bay Area cellphone retailer, have agreed to pay just under $4.2 million to the company’s employee stock ownership plan (ESOP) following a probe by the U.S. Department of Labor’s Employee Benefits Security Administration (EBSA). Investigators found that company owners had the plan buy company stock at highly overvalued rates.
01/03/2014
A U.S. Department of Labor Employee Benefit Security Administration (EBSA) investigation has revealed that Sunkist Growers and its fiduciaries improperly used retirement plan funds to pay salaries and benefits for several employees and managers.