Werschkull v. United California Bank

Opinion

ROUSE, J.

Plaintiffs, who are participants in an employees’ pension plan, brought this class action against defendant United California Bank (UCB), trustee of the plan, to obtain a judicial declaration that UCB’s 1962 amendment to the plan and its conduct pursuant to that amendment had resulted in a wrongful diversion of pension trust funds. It was also alleged that UCB had fraudulently concealed from plaintiffs the existence of the 1962 amendment and the wrongful actions taken pursuant to said amendment. In addition to declaratory relief, plaintiffs sought an accounting, the…