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FOSTER MED. CORP. EMP. PENSION PLAN v. HEALTHCO

No. 84-1716.

753 F.2d 194 (1985)

FOSTER MEDICAL CORPORATION EMPLOYEES' PENSION PLAN, et al., Plaintiffs, Appellants, v. HEALTHCO, INC. and the Amended and Restated Healthco Employees' Pension Plan, Defendants, Appellees.

United States Court of Appeals, First Circuit.

Decided January 25, 1985.

Attorney(s) appearing for the Case

David Wawro, New York City, with whom Haythe & Curley, New York City, Robert S. Frank, Jr., and Choate, Hall & Stewart, Boston, Mass., were on brief, for appellants.

Joel Lewin with whom Peter M. Zuk and Snyder, Tepper & Comen, Boston, Mass., were on brief, for appellees.

Before COFFIN and BREYER, Circuit Judges, and MALETZ, Senior Judge.

MALETZ, Senior Judge.

Plaintiffs appeal from the district court's entry of summary judgment for defendants in a contract and ERISA action. For the reasons that follow, the judgment below is affirmed in part and reversed and remanded in part.

I. Background

The action arises from a so-called "spin-off" transaction, in which defendant Healthco, Inc. (Healthco) sold the assets and liabilities of its Medical Division to Foster Medical Distribution...

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