Labor Department, Employee Benefits Security Administration
This exemption allows the Abiomed Retirement Savings Plan (the Plan) to acquire and hold certain "contingent value rights" and to receive payments in connection with that acquisition and holding. Absent an exemption, these transactions would violate the prohibited transaction provisions of the Employee Retirement Income Security Act of 1974 (ERISA) and/or the Internal Revenue Code of 1986 (the Code).
Document Headings Document headings vary by document type but may contain the following: the agency or agencies that issued and signed a document the number of the CFR title and the number of each part the document amends, proposes to amend, or is directly related to the agency docket number / agency internal file number the RIN which identifies each regulatory action listed in the Unified Agenda of Federal Regulatory and Deregulatory Actions See the Document Drafting Handbook for more details. Department of Labor Employee Benefits Security Administration [Prohibited Transaction Exemption 2026-08; Application No. D-12097] AGENCY: Employee Benefits Security Administration, Labor. ACTION: Notice of exemption. SUMMARY: This exemption allows the Abiomed Retirement Savings Plan (the Plan) to acquire and hold certain “contingent value rights” and to receive payments in connection with that acquisition and holding. Absent an exemption, these transactions would violate the prohibited transaction provisions of the Employee Retirement Income Security Act of 1974 (ERISA) and/or the Internal Revenue Code of 1986 (the Code). DATES: Exemption date: The exemption will be in effect as of November 15, 2022. FOR FURTHER INFORMATION CONTACT: Blessed Chuksorji-Keefe at Chuksorji.Blessed@dol.gov or Emily Harris at Harris.Emily.M@dol.gov . SUPPLEMENTARY INFORMATION: Background The Plan submitted an exemption application to the Department of Labor (the Department) requesting retroactive exemptive relief, in effect as of November 15, 2022, for: (1) the Plan's acquisition and holding of “contingent value rights” (CVRs) following the tender of Abiomed, Inc. (Abiomed) common stock or the cancellation of Abiomed common stock; and (2) the Plan's receipt of payments in connection with the acquisition and holding of CVRs (collectively, the Covered Transactions). [ 1 ] The Plan's acquisition of CVRs was on essentially ( printed page 58917) the same terms and in the same man…
Citation: 91 FR 58916
