FAIRCLOTH v. LUNDY PACKING CO.

No. 95-1275.

91 F.3d 648 (1996)

Janice Fay FAIRCLOTH; Evelyn D. Frederick; Callweall W. Smiling, Plaintiffs-Appellants, v. LUNDY PACKING COMPANY; Annabelle L. Fetterman, Trustee Lundy Packing Company Stock Ownership Plan; Mabel F. Held, Trustee Lundy Packing Company Stock Ownership Plan, Defendants-Appellees, and John Does, Defendants. American Association of Retired Persons; National Employment Lawyers Association, Amici Curiae.

United States Court of Appeals, Fourth Circuit.

Decided August 2, 1996.


Attorney(s) appearing for the Case

ARGUED: Marc H. Rifkind, Slevin & Hart, Washington, DC, for Appellants. Susanna Knutson Gibbons, Poyner & Spruill, L.L.P., Raleigh, North Carolina, for Appellees. ON BRIEF: Bary S. Slevin, Slevin & Hart, Washington, DC; Martha Ann Geer, Patterson, Harkavy & Lawrence, Raleigh, North Carolina, for Appellants. Robin Tatum Morris, Poyner & Spruill, L.L.P., Raleigh, North Carolina, for Appellees. Daniel Feinberg, Jeffrey Lewis, Sigman, Lewis & Feinberg, Oakland, California; Joan S. Wise, Cathy Ventrell-Monsees, Mary Ellen Signorille, American Association of Retired Persons, Washington, DC, for Amici Curiae.

Before HAMILTON, WILLIAMS, and MICHAEL, Circuit Judges.


Affirmed in part, reversed in part and remanded by published opinion. Judge HAMILTON wrote the opinion, in which Judge WILLIAMS joined. Judge MICHAEL wrote a separate opinion concurring in part and dissenting in part.

OPINION

HAMILTON, Circuit Judge:

Janice Fay Faircloth, Evelyn D. Frederick, and Callweall W. Smiling (the Appellants), three participants in the employee stock ownership plan (the ESOP) of Lundy Packing Company (Lundy), brought this...

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