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ALLEN v. WEST POINT-PEPPERELL, INC.

No. 90 Civ. 3841 (SAS).

908 F.Supp. 1209 (1995)

Gordon E. ALLEN, John Currier, James J. Dunne, Leo Fornero, Gerard P. Mandry, Norman K. Matheson, Bruce E. Moore, Nicholas Pallotta and Cochran B. Supplee, Plaintiffs, v. WEST POINT-PEPPERELL, INC., D. Michael Roark, C. Powers Dorsett, and Barry F. Shea, Defendants.

United States District Court, S.D. New York.

November 2, 1995.

Attorney(s) appearing for the Case

Robert J. Hausen, Ralph A. Rossi, Chadbourne & Parke, New York City, for Plaintiffs, Gordon Allen, et al.

Francis Carling, Frederick A. Brodie, Mara Lozier Shore, Winthrop, Stimson, Putnam & Roberts, New York City, for Defendants West Point-Pepperell, Inc., et al.

OPINION AND ORDER

SCHEINDLIN, District Judge.

Nine former executives of Cluett Peabody & Co. ("Cluett") bring this diversity action against West Point-Pepperell, Inc. ("West Point"), of which Cluett was once a subsidiary and division. Plaintiffs contend that West Point, in the face of a hostile takeover attempt, reduced the lump sum payments of deferred compensation due Plaintiffs under an employee benefit plan by wrongfully changing the discount...

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