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McADAM v. DEAN WITTER REYNOLDS, INC.

Nos. 89-5250, 89-5251.

896 F.2d 750 (1990)

Thomas J. McADAM, Jr., McAdam Electric Company, Inc., a New Jersey Corporation, McAdam Pension Plan, and McAdam Electric Profit Sharing Plan v. DEAN WITTER REYNOLDS, INC. and Clifford B. Murray v. Harold TYSON and Midlantic National Bank, Martin S. Wilson, Philadelphia Life Insurance Company, Professional Benefit Consultants, Inc., McAdam Electric Company, Thomas J. McDonough, Jr., Scott A. Conesky, Theresa Conesky, Edward H. Kay, Regina A. Kay, Margaret White, Elmer J. Parsons, Jr., Nancy L. Parsons, John J. Sykes, Jr., Eleanor Downer, S. Whitney Downer, Lucille Robertson, Gwenn Graves Hamilton, Robert Brown, Beverly A. Brown and Mary L. Brown. Appeal of DEAN WITTER REYNOLDS, INC., in No. 89-5250. Appeal of MIDLANTIC NATIONAL BANK/SOUTH in No. 89-5251, Morgan Guaranty Trust Company of New York, Appellee, No. 89-5251.

United States Court of Appeals, Third Circuit.

Decided February 13, 1990.

Rehearing and Rehearing Denied March 16, 1990.

Attorney(s) appearing for the Case

Jonathan L. Goldstein (argued), Richard K. Coplon, Jeffrey Speiser, and Jerrald J. Hochman Hellring, Lindeman, Goldstein, Siegal, Stern & Greenberg, Newark, N.J., for appellant, Dean Witter Reynolds, Inc.

Charles H. Hoens, Jr. (argued) and Helen E. Hoens, Lum, Hoens, Conant & Danzis, Roseland, N.J., for appellant, Midlantic Nat. Bank/South.

Peter S. Greenberg (argued), Jeffrey W. Golan, and Margaret Chon, Schnader, Harrison, Segal & Lewis, Philadelphia, Pa., for appellees, Thomas J. McAdam, Jr., McAdam Elec. Co., Inc., McAdam Pension Plan, and McAdam Elec. Profit Sharing Plan.

William John Kearns, Jr. (argued), Kearns & Kearns, Willingboro, N.J., for appellee, Morgan Guar. Trust Co. of New York.

Before BECKER and COWEN, Circuit Judges, and WEIS, Senior Circuit Judge.

Rehearing and Rehearing In Banc Denied March 16, 1990.

OPINION OF THE COURT

COWEN, Circuit Judge.

This appeal arises out of a long and complex jury trial. The appellants, Dean Witter Reynolds, Inc. ("Dean Witter") and Midlantic National Bank/South ("Midlantic"), appeal the district court's entry of a judgment against them and in favor of the appellees, Thomas J. McAdam, Jr., McAdam Electric Company, McAdam Pension Plan, and McAdam Electric Profit...

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