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HUNTER v. CALIBER SYSTEM, INC.

Nos. 99-3620, 99-3623.

220 F.3d 702 (2000)

David T. HUNTER (99-3620); Robert Allison, et al. (99-3623), Plaintiffs-Appellants, v. CALIBER SYSTEM, INC., f/k/a Roadway Services, Inc., et al., Defendants-Appellees.

United States Court of Appeals, Sixth Circuit.

Decided and Filed August 2, 2000.

Attorney(s) appearing for the Case

Tony C. Merry (argued and briefed), McCarthy Palmer Volkema Boyd & Thomas, Columbus, OH, for Plaintiff-Appellant.

David J. Young (briefed), Michael R. Reed (argued), Squire, Sanders & Dempsey, Columbus, OH, Daniel W. Srsic (argued and briefed), David A. Kadela (briefed), Littler Mendelson, Columbus, OH, Albert J. Lucas (argued and briefed), Calfee, Halter & Griswold, Columbus, OH, for Defendants-Appellees.

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

OPINION

QUIST, District Judge.

These consolidated cases arise out of the January 1, 1996, spin-off of Defendant Roadway Express, Inc. ("REX") by its former parent company, Defendant Caliber System, Inc.1 ("Caliber"), and the precipitous decline in the price of Caliber stock between July 1996 and August 1996 following the spinoff. Plaintiffs, employees of REX, alleged in their complaints...

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