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REICH v. COMPTON

No. 93-2019.

57 F.3d 270 (1995)

Robert B. REICH, Secretary of the United States Department of Labor, Appellant, v. Fred COMPTON, Joseph McHugh, John Nielsen, Frederick Hammerschmidt, Gersil N. Kay, Electrical Mechanics Association, The Fidelity-Philadelphia Trust Company, and The International Brotherhood of Electrical Workers, Local Union No. 98, Appellees.

United States Court of Appeals, Third Circuit.

Decided June 5, 1995.

Rehearing Denied September 8, 1995.

As Amended September 8, 1995.

Attorney(s) appearing for the Case

Thomas S. Williamson, Jr., Solicitor of Labor, Allen H. Feldman, Associate Solicitor for Special Appellate and Supreme Court Litigation, Nathaniel I. Spiller, Counsel for Appellate Litigation, Ellen J. Beard (argued), Atty. U.S. Dept. of Labor, Washington, DC, for appellant.

Michael Katz (argued), Meranze and Katz, Philadelphia, PA, Sandra L. Duggan, N. Marlene Fleming (argued), Blackburn & Michelman, P.C., Philadelphia, PA, for appellees, Fred Compton, Joseph McHugh, and John Nielsen.

Richard B. Sigmond, Richard C. McNeill, Jr. (argued), Sagot, Jennings & Sigmond, for appellees, Elec. Mechanics Ass'n and Intern. Broth. of Elec. Workers, Local Union No. 98.

Laurance E. Baccini (argued), Carol A. Cannerelli-Van Poortvliet, of counsel: Wolf, Block, Schorr and Solis-Cohen, Philadelphia, PA, for appellees, Frederick Hammerschmidt, Gersil N. Kay, and The Fidelity-Philadelphia Trust Co.

Before: BECKER, ALITO, and GIBSON, Circuit Judges.

Rehearing In Banc Denied September 8, 1995.

OPINION OF THE COURT

ALITO, Circuit Judge:

This is an appeal from an order granting summary judgment in favor of the defendants in an action brought by the Secretary of Labor ("the Secretary") to redress alleged violations of the Employee Retirement Income Security Act of 1974 ("ERISA"), 29 U.S.C. §§ 1001-1461. The action was based on certain financial transactions involving the International...

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