Neil v. Zell

MEMORANDUM OPINION AND ORDER

REBECCA R. PALLMEYER, District Judge.

Plaintiffs, participants in Tribune Company’s Employee Stock Ownership Plan (“ESOP”), seek partial summary judgment on one of their claims against Defendant GreatBanc, the plan’s fiduciary. In its earlier ruling on a motion by all Defendants for dismissal, the court concluded that Plaintiffs had successfully stated a claim that GreatBanc violated its fiduciary duty when it approved a stock purchase by the ESOP that was a prohibited transaction. Plaintiffs now move for summary judgment on that portion of their claim alleging that…