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AIR LINE PILOTS ASS'N, INTERN. v. UAL CORP.

No. 88 C 3576.

699 F.Supp. 1309 (1988)

AIR LINE PILOTS ASSOCIATION, INTERNATIONAL and Jeffrey Buckley Cockrell, Plaintiffs, v. UAL CORPORATION, United Air Lines, Inc., Neil A. Armstrong, Andrew F. Brimmer, Edward W. Carlson, Richard P. Cooley, E. Mandell de Windt, William M. Jenkins, Juanita M. Kreps, Charles F. Luce, Fujio Matsuda, John F. McGillicuddy, Harry Mullikin, James J. O'Connor, Frank A. Olson, Nicholas R. Petry, John C. Pope, and Stephen M. Wolf, Defendants, and International Association of Machinists & Aerospace Workers, Defendant Joined Pursuant to Fed.R.Civ.P. 19.

United States District Court, N.D. Illinois, E.D.

November 12, 1988.

MEMORANDUM OPINION AND ORDER

ZAGEL, District Judge.

I

Summary of Opinion*

ZAGEL, District Judge.

United's pilots are trying to buy their airline. They propose the creation of an ESOP, an employee stock option plan, for its tax advantages, to acquire all (or nearly all) United shares. If United agrees, the...

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