Legal Opinion
Lalonde v. Textron, Inc.
District Court, D. Rhode Island
Decided June 24, 2003No. Nos. 02-334S, 02-491SPublishedCited by 13 opinions
1Opinion of the Court
OPINION AND ORDER
SMITH, District Judge.
This case presents a challenge to the practice of investing employee pension contributions, and the employer’s matching contributions, in the employer company’s stock through the vehicle known as an *275“ESOP,” an Employee Stock Ownership Plan. Essentially the Plaintiffs claim that continuing to invest in the home team’s stock, even as the stock was falling in value, constitutes a breach of fiduciary duty by the employer and its plan trustee under the Employee Retirement Income Security Act (ERISA).
The Employer, the Plan and the Trustee maintain that…
2Cases cited21 opinions
- Alan Weiner, D.P.M. v. Klais and Company, Inc.Court of Appeals for the Sixth Circuit · 1997
- LOCKHEED CORP. Et Al. v. SPINKSupreme Court of the United States · 1996
- Beddall v. State Street Bank & Trust Co.Court of Appeals for the First Circuit · 1998
- Aybar v. Crispin-ReyesCourt of Appeals for the First Circuit · 1997
- Moench v. RobertsonCourt of Appeals for the Third Circuit · 1995
16 more not listed; retrieve them via the Exa API.
3Cited by13 opinions
- Wright v. Oregon Metallurgical Corp.Court of Appeals for the Ninth Circuit · 2004
- Quan v. Computer Sciences Corp.Court of Appeals for the Ninth Circuit · 2010
- Lalonde v. Textron, Inc.Court of Appeals for the First Circuit · 2004
- In Re Electronic Data Systems Corp. "ERISA" LitigationDistrict Court, E.D. Texas · 2004
- In Re AEP Erisa LitigationDistrict Court, S.D. Ohio · 2004
8 more not listed; retrieve them via the Exa API.