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PILKINGTON PLC v. PERELMAN

No. 93-55573.

72 F.3d 1396 (1995)

PILKINGTON PLC; Pilkington Visioncare, Inc.; Pilkington Visioncare Pension Plan, Plaintiffs-Appellants, v. Ronald O. PERELMAN; Howard Gittis; Jewel S. LaFontant; Bruce Slovin; Fred R. Sullivan; Pierre A. Rinfret; Revlon, Inc., Defendants-Appellees.

United States Court of Appeals, Ninth Circuit.

Decided December 27, 1995.

Attorney(s) appearing for the Case

Janis L. Harwell and M. Scott Donahey, Holtzmann, Wise & Shepard, Palo Alto, California, for plaintiffs-appellants.

Frank Rothman, Harriet S. Posner, Kenneth A. Ostrow, Skadden, Arps, Slate, Meagher & Flom, Los Angeles, California, for defendants-appellees.

Lauren M. Serper, United States Department of Labor, Washington, D.C., for amicus curiae.

Before: FEINBERG, SCHROEDER, and KOZINSKI, Circuit Judges.

Opinion by Judge SCHROEDER; Dissent by Judge KOZINSKI.

SCHROEDER, Circuit Judge:

This is a suit under the Employee Retirement Income Security Act of 1974, 29 U.S.C. §§ 1001, et seq. ("ERISA"), claiming damages for alleged breaches of fiduciary duties imposed by the Act. Plaintiffs include Pilkington, a British corporation that purchased the "Visioncare" companies from the defendant Revlon corporation; Pilkington's American subsidiary, Pilkington...

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