Legal Opinion
Jerry Summers, Individually and on Behalf of All Others Similarly Situated v. State Street Bank & Trust Company, and Ual Corporation Esop Committee
Court of Appeals for the Seventh Circuit
Decided June 28, 2006No. 05-4005, 05-4317PublishedCited by 53 opinions
1Opinion of the Court
POSNER, Circuit Judge.
At the end of 2002, when United Air Lines declared bankruptcy, its employees (both active and retired) owned more than half the airline’s common stock through an ESOP (employee stock ownership plan). In re UAL Corp., 412 F.3d 775, 777 (7th Cir.2005). ESOPs are subject to ERISA, the federal pension law, 29 U.S.C. §§ 1104(a)(2), 1107(b), (d)(6); Armstrong v. LaSalle Bank National Ass’n, 446 F.3d 728, 730 (7th Cir.2006), and this is a suit under ERISA. The plaintiffs represent a class consisting of United’s employees. The principal defendant is State Street Bank & Trust, a…
2Cases cited22 opinions
- Basic Inc. v. LevinsonSupreme Court of the United States · 1988
- Joan Hangarter v. Provident Life and Accident Insurance Company, and the Paul Revere Life Insurance Company Unumprovident Corp.Court of Appeals for the Ninth Circuit · 2004
- Denney v. Deutsche Bank AGCourt of Appeals for the Second Circuit · 2006
- Mark A. Smith v. Ford Motor CompanyCourt of Appeals for the Seventh Circuit · 2000
- Moench v. RobertsonCourt of Appeals for the Third Circuit · 1995
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3Cited by53 opinions
- Pension Benefit Guaranty Corp. Ex Rel. Saint Vincent Catholic Medical Centers Retirement Plan v. Morgan Stanley Investment Management Inc.Court of Appeals for the Second Circuit · 2013
- Pugh v. Tribune Co.Court of Appeals for the Seventh Circuit · 2008
- Fifth Third Bancorp v. DudenhoefferSupreme Court of the United States · 2014
- DiFelice v. U.S. Airways, Inc.Court of Appeals for the Fourth Circuit · 2007
- Lanfear v. Home Depot, Inc.Court of Appeals for the Eleventh Circuit · 2012
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