International Union, United Automobile, Aerospace & Agricultural Implement Workers v. Allis-Chalmers Corp.

DECISION and ORDER

MYRON L. GORDON, District Judge.

In this action, the plaintiffs contend that a joint venture agreement between the defendant Allis-Chalmers Corporation and the German corporation Siemens, A.G., violates provisions of pension and unemployment benefits agreements and plans to which the plaintiff U.A.W. and the defendant Allis-Chalmers are parties. In addition, the plaintiffs contend that aspects of the joint venture agreement violate the Employee Retirement Income Security Act of 1974 (ERISA), the Securities Act of 1933, and the Securities Exchange Act of 1934.

The plaintiffs…