Legal Opinion
Howard v. Shay
Court of Appeals for the Ninth Circuit
Decided November 22, 1996No. 93-56605PublishedCited by 98 opinions
1Opinion of the Court
Opinion by Judge FARRIS; Dissent by Judge O’SCANNLAIN.
FARRIS, Circuit Judge:
INTRODUCTION
The plaintiffs are participants in an Employee Stock Ownership Plan that was created for the benefit of the employees of Pacific Architects and Engineers, Inc., a California corporation. In 1974, the ESOP purchased approximately 40% of Pacific’s stock irom Edward Shay for $4,269,162, or $10.67 per share. Shay was the president and chairman of Pacific, he was one of the ESOP’s fiduciaries, and, prior to the sale, he owned 100% of Pacific’s stock, In 1988, Shay’s co-fiduciaries, Richard Smith and Martin…
2Cases cited9 opinions
- Shaw v. Delta Air Lines, Inc.Supreme Court of the United States · 1983
- Charles W. Leigh and Ervin F. Dusek, Etc., and George Johnson, Intervening v. Clyde William EngleCourt of Appeals for the Seventh Circuit · 1984
- Donovan v. CunninghamCourt of Appeals for the Fifth Circuit · 1983
- Martin v. FeilenCourt of Appeals for the Eighth Circuit · 1992
- Donovan v. BierwirthCourt of Appeals for the Second Circuit · 1982
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3Cited by98 opinions
- Braden v. Wal-Mart Stores, Inc.Court of Appeals for the Eighth Circuit · 2009
- Johnson v. CouturierCourt of Appeals for the Ninth Circuit · 2009
- Chao v. Hall Holding Company, Inc.Court of Appeals for the Sixth Circuit · 2002
- John Doe v. University of Southern IndianaCourt of Appeals for the Seventh Circuit · 2022
- DiFelice v. U.S. Airways, Inc.Court of Appeals for the Fourth Circuit · 2007
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