JOHNSON, Circuit Judge:
In view of the high import of Rule 11 to both the bench and bar, this Court took the instant case en banc to resolve any inconsistencies between previous opinions in this Circuit regarding procedures and standards for the imposition of sanctions under Rule 11, as amended in 1983.
I. FACTS AND PROCEDURAL HISTORY
On October 19, 1984, the plaintiffs-employees filed suit against their former employer Capital, alleging that Capital...
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