Elmore v. Cone Mills Corp.

The court’s opinion, in which I concur, concludes that the letters of December 13 and 15,1983, do not constitute a “plan” regulated by ERISA and that therefore the plaintiffs cannot make a claim for plan benefits based on those letters. By an equally divided vote, however, the court has left open the plaintiffs’ claim for $14 million based on an equitable estoppel theory. As an alternative basis to justify plaintiffs’ claim, the district court fashioned federal common law under ERISA, giving plaintiffs a claim based on equitable estoppel. The court indicated that if the theory were upheld on…