1. Home
  2. Browse Decisions
  3. F.3d
  4. 93 F.3d
  5. 93 F.3d 1171 (1996)
 

GLAZIERS & GLASSWORKERS v. NEWBRIDGE SECURITIES

Nos. 95-1175, 95-1215 and 95-1283.

93 F.3d 1171 (1996)

GLAZIERS AND GLASSWORKERS UNION LOCAL NO. 252 ANNUITY FUND; Glaziers and Glassworkers Union Local No. 252 Vacation Fund; Glaziers and Glassworkers Union Local No. 252 Pension Fund; Glaziers and Glassworkers Union Local No. 252 Health Fund; Glaziers and Glassworkers Union Local No. 252 Health and Welfare Fund; Glaziers and Glassworkers Union Local No. 252 Apprentice Fund; Sean McGarvey, in his fiduciary capacity; and Martin Rosenberg, in his fiduciary capacity, Appellants, v. NEWBRIDGE SECURITIES, INC.; Janney Montgomery Scott, Inc.; Richard L. Socket; James A. Williams; James C. Arsenault; Joseph T. Falotico; Edward J. Berkowitz; Larry R. Golbeski; Joseph E. Davis; Bernard Gelenberg; Joseph T. Ashdale; Barry Shore; Anthony D'Angelo; Jungers, O'Connel & Bacheler, P.C.; John P. Jungers, Equibank, Inc. (as successor in interest to Liberty Savings Bank); John Does I-X; and Provident National Bank.

United States Court of Appeals, Third Circuit.

Decided August 28, 1996.

Sur Petition for Rehearing September 24, 1996.

Attorney(s) appearing for the Case

Ira B. Silverstein (argued), Lisa B. Carney, Fox, Rothschild, O'Brien & Frankel, Philadelphia, PA, Leslie M. Gerstein, Philadelphia, PA, for Appellants.

Elizabeth H. Fay (argued), Karen P. Pohlmann, Morgan, Lewis & Bockius, Philadelphia, PA, for Appellees.

Before: STAPLETON, McKEE, Circuit Judges, and GIBSON, Senior Circuit Judge.

OPINION OF THE COURT

McKEE, Circuit Judge.

We are called upon to determine the scope of the fiduciary duty owed by a broker-dealer of securities under the Employee Retirement Income Security Act of 1974, as amended ("ERISA"), 29 U.S.C. § 1104(a) in the rather narrow circumstances presented by this appeal. Various employee benefit funds sued Janney Montgomery Scott, Inc. ("Janney") alleging that Janney's failure...

Let's get started

Leagle.com

Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.

  • Updated daily.
  • Uncompromising quality.
  • Complete, Accurate, Current.

Listed below are the cases that are cited in this Featured Case. Click the citation to see the full text of the cited case. Citations are also linked in the body of the Featured Case.

Cited Cases

  • No Cases Found

Listed below are those cases in which this Featured Case is cited. Click on the case name to see the full text of the citing case.

Citing Cases