Legal Opinion
Glaziers and Glassworkers Union Local No. 252 Annuity Fund v. Newbridge Securities, Inc.
Court of Appeals for the Third Circuit
Decided August 28, 1996No. 95-1175, 95-1215 and 95-1283UnknownCited by 2 opinions
1Opinion of the Court
OPINION OF THE COURT
McKEE, Circuit Judge.
We are called upon to determine the scope of the fiduciary duty owed by a broker-dealer of securities under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), 29 U.S.C. § 1104(a) in the rather narrow circumstances presented by this appeal. Various employee benefit funds sued Janney Montgomery Scott, Inc. (“Janney”) *1175alleging that Janney’s failure to disclose information about one of Janney’s employees was a breach of Janney’s fiduciary duty under Section 404(a) of ERISA, and under federal and state common law. The district court…
2Cases cited22 opinions
- Shaw v. Delta Air Lines, Inc.Supreme Court of the United States · 1983
- Textile Workers v. Lincoln Mills of Ala.Supreme Court of the United States · 1957
- Massachusetts Mutual Life Insurance v. RussellSupreme Court of the United States · 1985
- Varity Corp. v. HoweSupreme Court of the United States · 1996
- Mertens v. Hewitt AssociatesSupreme Court of the United States · 1993
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3Cited by2 opinions
- 20 Employee Benefits Cas. 1697, Pens. Plan Guide P 23924m Glaziers and Glassworkers Union Local No. 252 Annuity Fund Glaziers and Glassworkers Union Local No. 252 Vacation Fund Glaziers and Glassworkers Union Local No. 252 Pension Fund Glaziers and Glassworkers Union Local No. 252 Health Fund Glaziers and Glassworkers Union Local No. 252 Health and Welfare Fund Glaziers and Glassworkers Union Local No. 252 Apprentice Fund Sean McGarvey in His Fiduciary Capacity and Martin Rosenberg, in His Fiduciary Capacity v. Newbridge Securities, Inc. Janney Montgomery Scott, Inc. Richard L. Socket James A. Williams James C. Arsenault Joseph T. Falotico Edward J. Berkowitz Larry R. Golbeski Joseph E. Davis Bernard Gelenberg Joseph T. Ashdale Barry Shore Anthony D'Angelo Jungers, O'COnnel & Bacheler, P.C. John P. Jungers, Equibank, Inc. (As Successor in Interest to Liberty Savings Bank) John Does I-X and Provident National BankCourt of Appeals for the Third Circuit · 1996
- Berkadia Real Estate Advisors LLC v. WadlundDistrict Court, D. Arizona · 2022