JOHNSON'S DAIRY v. WESTERN RESERVE LIFE ASSUR. CO.

No. 95-5984.

107 F.3d 400 (1997)

JOHNSON'S DAIRY, INC., and James Johnson and John Johnson, Successor Co-Trustees of Johnson's Dairy, Inc., Defined Benefit Pension Plan and Trust, Plaintiffs-Appellants, v. WESTERN RESERVE LIFE ASSURANCE COMPANY OF OHIO, Defendant-Appellee.

United States Court of Appeals, Sixth Circuit.

Decided February 20, 1997.


Attorney(s) appearing for the Case

Michael K. Lett (argued and briefed), Gray, Woods & Cooper, Ashland, KY, for Plaintiffs-Appellants.

Robert W. Griffith (argued), Michael I. Kanovitz (briefed), Stites & Harbison, Louisville, KY, for Defendant-Appellee.

Before: MERRITT and COLE, Circuit Judges; DUGGAN, District Judge.


MERRITT, J., delivered the opinion of the court, in which COLE, J., joined. DUGGAN, D.J. (pp. 402-03), delivered a separate dissenting opinion.

MERRITT, Circuit Judge.

According to the complaint in this case, dismissed by the court below for failure to state a claim under Rule 12(b)(6), Johnson's Dairy hired Western Reserve Life to manage its pension funds. An agent of Western Reserve, one David Lambert, was the person assigned to the account. Lambert embezzled...

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