Operating Engineers Pension Trust v. A-C Co.

REINHARDT, Circuit Judge:

In this case we consider several issues relating to the interpretation of an employee benefit trust fund agreement, including the question of how our prior decisions regarding that agreement can be reconciled. At least as important, we also consider significant questions pertaining to when the filing of a lawsuit may be deemed frivolous under Rule 11.

I. FACTS AND PROCEEDING BELOW

Plaintiffs/Appellants are four employee benefit trusts (collectively referred to as “Trusts”). The Trusts were established pursuant to written collective bargaining agreements and declarations…