Linda L. LALONDE, Individually and on behalf of all others similarly situated, Plaintiffs,
v.
TEXTRON, INC., Textron Savings Plan, Textron Savings Plan Committee, John Does 1-10, and Putnam Fiduciary Trust Company, Defendants.
Michelle A. Simon-Grech, Individually, and on behalf of all others similarly situated, Plaintiffs,
v.
Textron, Inc., Textron Savings Plan, Textron Savings Plan Committee, John Does 1-10, and Putnam Fiduciary Trust Company, Defendants.
United States District Court, D. Rhode Island.https://leagle.com/images/logo.png
June 24, 2003.
June 24, 2003.
Attorney(s) appearing for the Case
David J. Strachman, Mclntyre, Tate, Lynch & Holt, Counsellors at Law, Providence, RI, Joe R. Whatley, Jr., Esq., Whatley Drake, LLC, Birmingham, AL, Lee Squitieri, Esq., Squitieri & Fearon, LLP, New York City, Charles J. Piven, Esq., Law Offices of Charles J. Piven, P.A., Baltimore, MD, G. Douglas Jones, Whatley Drake, LLC, Birmingham, AL, for plaintiffs.
John A. Tarantino, Paul V. Curcio, Adler, Pollock & Sheehan, Inc., Providence, RI, Mitchell A. Karlan, Esq., Gibson, Dunn & Crutcher LLP, New York City, Karl G. Nelson, Esq., Dallas, TX, William J. Kilberg, Esq., Gibson, Dunn & Crutcher LLP, Washington, DC, for Defendant Textron, Inc. and Textron Savings Plan.
Joseph V. Cavanagh, Jr., Staci L. Kolb, Blish & Cavanagh, Providence, RI, James O. Fleckner, Esq., James S. Dittmar, Esq., Goodwin Proctor LLP, Boston, MA, for Defendant Putnam Fiduciary Trust Company.
United States District Court, D. Rhode Island.
OPINION AND ORDER
SMITH, District Judge.
This case presents a challenge to the practice of investing employee pension contributions, and the employer's matching contributions, in the employer company's stock through the vehicle known as an "ESOP," an Employee Stock Ownership Plan. Essentially the Plaintiffs claim that continuing to invest in the home team's stock, even as the stock was falling in value...
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