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ADAMS v. GOULD INC.

No. 83-1352.

739 F.2d 858 (1984)

Robert J. ADAMS, Merredna T. Buckley, William J. Calloway, James Joseph Connell, Anthony Michael Cosella, John R. Cook, Anne Crowley, on behalf of the Estate of William J. Crowley, Deceased, Kathryn M. Cullen, Angelina A. Dicarlo, Rocco Delgrammastro, Kathleen Diehl, as Executrix, of the Estate of John M. Dillenschneider, Deceased, Wanda A. Domarotsky, Frank A. Dregar, Robert J. Egy, Amanda Fay, Martha Flinn, Thomas E. Flood, Cornelius Frazier, Jr., Mary Gerace, Rose T. Guokas, John Guy, Mary F. Habina, James Hickman, John Hudson, Robert H. Jones, Pearl Kelly, Joseph J. Klein, Elizabeth D. Linder, Augustine Marucci, James McGowan, Elizabeth A. McNally, John Morris, John Mumbower, Anna M. Myers, Agnes M. Myers, John A. Neff, Ruth O'Donnell, Grace Mary Papala, Anna Petriccione, Richard M. Phillips, Russell Ralls, Florence Raysick, Daniel J. Ronau, Bernard C. Russell, John V. Russell, Margaret Russell, Anthony Santoleri, Walter J. Stanowitch, Madeline T. Stein, John F. Steinmetz, Beatrice L. Stillwell, Marie Smith, Nancy Swallow, Marion Thompson, William J. Watts, Antoinette W. Weiss, Clifford W. Williams, Robert Williams, James C. Wollner, Frank Umstetter, Marie Venti, James C. Willner, Bridget Barlow, Appellants, v. GOULD INC. and First Trust Company of St. Paul, Minnesota, Individually and as Trustee of the Gould Inc. Pension Trust For Hourly Employees and Pension Benefit Guaranty Corporation, Appellees.

United States Court of Appeals, Third Circuit.

Decided June 28, 1984.

As Amended July 13, 1984.

Rehearing and Rehearing Denied July 25, 1984.

Attorney(s) appearing for the Case

Marvin F. Galfand (argued), Galfand & Galfand, Richard A. Ash, Lyman & Ash, Philadelphia, Pa., for appellants.

Robert E. Mann (argued), J. Stephen Poor, Seyfarth, Shaw, Fairweather & Geraldson, Chicago, Ill., John Markle, Jr., Mark M. Wilcox, Drinker, Biddle & Reath, Philadelphia, Pa., for appellees Gould, Inc. and First Trust Co. of St. Paul, Minn.

Richard H. Kyle, Briggs & Morgan, St. Paul, Minn., for appellee First Trust Co. of St. Paul, Minn.

Before GIBBONS and BECKER, Circuit Judges, and ATKINS, District Judge.

Rehearing and Rehearing In Banc Denied July 25, 1984.

OPINION OF THE COURT

BECKER, Circuit Judge.

This is a suit by a number of former employees of Gould Inc. against Gould and the First Trust Company of St. Paul Minnesota ("First Trust"), Gould's pension plan trustee, alleging that Gould violated the plaintiffs' rights by underfunding the Gould pension trust and that, despite their long service to the company, the plaintiffs have consequently been...

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