EEOC Lawsuit Challenges Age-Based ESOP Divestment Rule
The EEOC alleges that Scheels All Sports, Inc. amended its Employee Stock Ownership Plan (ESOP) so employees age 40 or older who failed to complete 1,000 hours in a year had to divest vested company stock, while younger employees who failed to complete 1,000 hours in a year were not required to divest.
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