Dyer v. Green — 1st Cir. (Sep 15, 2026)
The First Circuit hears Dyer v. Green, a dispute over employees' retirement savings at 1A Auto. The company created an employee stock ownership plan, or ESOP, which holds company shares for its workers. The plan borrowed from the company to buy preferred stock, shares carrying a promised dividend. Homer Dyer, a plan participant, alleges that the plan paid extra for that dividend but lost the benefit when dividend payments were used to reduce the company's own contributions. He says employees should have received both the contributions and the dividends, leaving more shares or cash in their retirement accounts. He sued under the federal retirement-plan law known as ERISA. The district court dismissed his suit for lack of standing: it found that he had not adequately alleged a concrete personal injury. This appeal asks whether Dyer has pleaded a real financial loss that lets the case proceed.
Dyer v. Green (No. 26-1010) — U.S. Court of Appeals for the First Circuit, argued September 15, 2026.
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