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LAIRD v. INTEGRATED RESOURCES, INC.

No. 89-2201.

897 F.2d 826 (1990)

L.W. LAIRD, et al., Plaintiffs-Appellants, v. INTEGRATED RESOURCES, INC., et al., Defendants-Appellees.

United States Court of Appeals, Fifth Circuit.

Order on Denial of Rehearing May 2, 1990.

Attorney(s) appearing for the Case

Thomas W. Moore, Moore & Moore, Veda A. Moore, C. Michael Clark, David T. Maddox, Houston, Tex., for plaintiffs-appellants.

K. Charles Peterson, Reynolds, White, Allen & Cook, Houston, Tex., for defendants-appellees.

Charles W. Schwartz, David C. Holmes, Vinson & Elkins, Houston, Tex., J. Lawrence Blades, Myerson & Kuhn, New York City, for Planning Ahead, Inc. and Jack Socrcic.

Before GOLDBERG, POLITZ and JONES, Circuit Judges.

GOLDBERG, Circuit Judge:

I. THE FACTS

Laird, Underwood, and Hannington, the plaintiffs in this suit, (the "plaintiffs") are employees of the LEM Construction Company Inc. ("LEM"). They also serve as trustees for the benefit of the LEM Profit Sharing Plan and Trust ("Trust"). LEM established the trust to benefit its approximately 200 employees.

The plaintiffs wanted professional assistance in managing the Trust. Consequently, they interviewed Jack...

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