Schrader v. Hamilton

ORDER GRANTING PLAINTIFF’S MOTION TO REMAND

PAEZ, District Judge.

I

INTRODUCTION & FACTUAL BACKGROUND

On May 13, 1996, plaintiff Ottis J. Schrader filed this shareholder’s derivative action in the Los Angeles County Superior Court on behalf of Atlantic Richfield Co. (“ARCO”) against defendant Beverly L. Hamilton, and nominal defendant ARCO. Hamilton, ARCO’s Vice-President and Investment Officer and an administrator under the Employees Retirement and Income Security Act of 1974 (“ERISA”), allegedly made highly speculative investments and caused ARCO’s Money Market Plus Benefit Plan (the “MMP Fund”…