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DIERKS v. THOMPSON

No. 7293.

414 F.2d 453 (1969)

Walter W. DIERKS et al., Plaintiffs, Appellees, v. Rupert C. THOMPSON et al., Trustees, Defendants, Appellants.

United States Court of Appeals First Circuit.

August 8, 1969.

Attorney(s) appearing for the Case

Jay H. Topkis, New York City, with whom Edward F. Hindle, Providence, R. I., Allan Blumstein, David A. Rahm and Paul, Weiss, Goldberg, Rifkind, Wharton & Garrison, New York City, were on brief, for appellants.

Leon L. Rice, Jr., Winston-Salem, N.C., with whom Joachim A. Weissfeld, Earle McGee Rice, Anderson, S. C., Womble, Carlyle, Sandridge & Rice, Winston-Salem, N. C., and Graham, Reid, Ewing & Stapleton, Providence, R. I., were on brief, for appellees.

Jerome P. Facher and Hale & Dorr, Boston, Mass., on brief for William G. Rose and others, amici curiae.

Before ALDRICH, Chief Judge, McENTEE and COFFIN, Circuit Judges.

ALDRICH, Chief Judge.

This is an appeal from a judgment declaring rights of former employees under a pension plan. In 1951 Textron, Inc., a Rhode Island corporation, established a non-contributory profit-sharing pension plan for its salaried employees and, upon the determination of its board of directors, for salaried employees of wholly owned subsidiaries. In 1955, it disposed of its last participating subsidiary. In 1957 a subsidiary, Amerotron Company, whose employees...

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