Legal Opinion
Chemung Canal Trust Co. ex rel. Fairway Spring Co. v. Sovran Bank/Maryland
District Court, W.D. New York
Decided December 27, 1990No. CIV-90-0013TPublishedCited by 3 opinions
1Opinion of the Court
DECISION AND ORDER
TELESCA, Chief Judge.
INTRODUCTION
The Chemung Canal Trust Company (Chemung), as the present trustee of the Fairway Spring Company, Inc. Restated Pension Plan (the Plan), and two beneficiaries of the Plan brought this action against Sovran Bank/Maryland (Sovran) pursuant to the Employee Retirement Income Security Act (ERISA). Plaintiffs allege that Sovran, which was trustee of the Plan immediately prior to Chemung, breached its fiduciary duties by failing to exercise prudence and due diligence in discovering and rectifying the wrongful acts *83of Glenn Dawson, who had been…
2Cases cited12 opinions
- Firestone Tire & Rubber Co. v. BruchSupreme Court of the United States · 1989
- Massachusetts Mutual Life Insurance v. RussellSupreme Court of the United States · 1985
- Texas Industries, Inc. v. Radcliff Materials, Inc.Supreme Court of the United States · 1981
- Northwest Airlines, Inc. v. Transport Workers UnionSupreme Court of the United States · 1981
- Kim v. FujikawaCourt of Appeals for the Ninth Circuit · 1989
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3Cited by3 opinions
- Chemung Canal Trust Co. v. Sovran Bank/MarylandCourt of Appeals for the Second Circuit · 1991
- Physicians Healthchoice, Inc. v. Trustees of the Automotive Employee Benefit TrustDistrict Court, D. Minnesota · 1991
- Chemung Canal Trust Company, as Trustee of the Fairway Spring Company, Inc. Restated Pension Plan William H. Brown Joseph R. Peters, Chemung Canal Trust Company, as Trustee of the Fairway Spring Company, Inc. Restated Pension Plan v. Sovran Bank/maryland, Sovran Bank/maryland, Third-Party v. Fairway Spring Co., Inc., Theodore Peterson, as President and Director of Fairway Spring Co., Inc. Donald R. Peterson, as Vice President and Director of Fairway Spring Co., Inc. Dorothy Tarby, as Secretary-Treasurer and Director of Fairway Spring Co., Inc. John Doe Jane Doe, as Members of the Investment Committee of the Fairway Spring Co., Inc. Restated Retirement Income Plan Lynn G. Keyser, Third-Party Fairway Spring Co., Inc. Theodore Peterson, as Director of Fairway Spring Co., Inc. Donald R. Peterson, as Vice President and Director of Fairway Spring Co., Inc. Dorothy Tarby, as Secretary-Treasurer and Director of Fairway Spring Co., Inc. And Lynn G. Keyser, Third-PartyCourt of Appeals for the Second Circuit · 1991