Beck v. Levering

Appellants Andrew Levy, Tower Asset Management, Inc., Tower Securities, Inc., Samuel Kovnat and William R. Wheeler (collectively “Tower”), appeal from Judge Broderick’s order, entered on a partial summary judgment motion and permanently barring appellants from acting as fiduciaries or providing services to ERISA plans and granting restitution. Because the order was properly based on the collateral estoppel effect of a previous decision in a related action, we affirm.

In 1985, the Trustees of the Masters, Mates and Pilots’ Individual Retirement Account Plan and Pension Plans (the “Plans”) sued…