WERNER v. WERNER

No. 99-3715.

267 F.3d 288 (2001)

Elizabeth WERNER; Jeffrey R. Ackerman; Matthew W. Weiss, a minor, by his parent, Elizabeth Werner; Timothy F. Burke, Jr., in his capacities as executor of the Estate of Anne L. Werner and as trustee of trusts created under the last will and testament of Anne L. Werner, deceased; Jeffrey R. Ackerman, in his capacity as trustee under Agreement of Trust for the benefit of Elizabeth Werner, dated December 18, 1967; Edward A. Pollack, all of the aforementioned plaintiffs individually and derivatively on behalf of Werner Holding Co. (PA), Inc., and, individually but not derivatively; Estate of Leo L. Werner, deceased, and trusts created under the last will and testament of Leo L. Werner by and through their individual beneficiaries, Elizabeth Werner, Jeffrey Ackerman and Matthew Weiss, Appellants, v. Eric J. WERNER; Richard L. Werner; Robert I. Werner; Donald M. Werner; Howard L. Solot; Craig R. Werner; Marc L. Werner; Michael J. Solot; Bruce D. Werner; Michael E. Werner; Barbara Schwartz; Marsha Karp; Shirley W. Rauch; Gail Rauch Blackman; Gail Rauch Blackman, as custodian for Heather Blackman; Heather Blackman; Marlene T. Krane; Marlene T. Krane, as custodian for Jason S. Krane; Jason S. Krane; Debra A. Rothman; Debra A. Rothman, as custodian for Kevin Matthew Rothman, for Joshua Jay Rothman and for Jordana Rothman; Kevin Matthew Rothman; Joshua Jay Rothman; Jordana Rothman; Noel Berk-Rauch; Noel Berk-Rauch, as custodian for Hannah Berk-Rauch and for Eli Berk-Rauch; Hannah Berk-Rauch; Eli Berk-Rauch; Mindy Alter; Mindy Alter, as custodian for Razie Devora Alter; Razie Devora Alter; Elise W. Frost; Elise W. Frost, as custodian for Marc William Frost, for Joshua Herbert Frost and for Rachel Anne Frost; Marc William Frost; Joshua Herbert Frost; Rachel Anne Frost; Ronald E. Werner; Marc L. Werner, as custodian for Ashley Elizabeth Werner and for Jeffrey A. Werner; Ashley Elizabeth Werner; Jeffrey A. Werner; Beverly Werner Ryan; Beverly Werner Ryan, as custodian for Shannon Rose Ryan and for Erin Joy Ryan; Shannon Rose Ryan; Erin Joy Ryan; Roni S. Rosati; Roni S. Rosati, as custodian for Ryan G. Rosati and for Richmond J. Rosati; Ryan G. Rosati; Richmond J. Rosati; Craig R. Werner, as custodian for Kurt J. Werner and for Kyle Werner; Kurt J. Werner; Kyle Werner, Bruce D. Werner, Howard L. Solot and Eric J. Werner, in their capacity as Trustees for Werner Family Trust; Werner Holding Co. (PA), Inc., a Pennsylvania corporation, Appellees.

United States Court of Appeals, Third Circuit.

Filed September 27, 2001.


Attorney(s) appearing for the Case

Richard W. Gladstone, II (Argued), Jill M. Szafranski, Lauren E. Lindh, Eckert Seamans Cherin & Mellott, LLC, Pittsburgh, PA, Counsel for Appellants.

James S. Larrimer, Marcus & Shapira, Pittsburgh, PA 15219; Robert E. Zimet (Argued), Skadden Arps Slate Meagher & Flom LLP, Mitchell A. Karlan, Gibson, Dunn & Crutcher LLP, New York, NY, James J. Restivo, Reed Smith Shaw & McClay LLP, Pittsburgh, PA, Larry K. Elliot, Cohen & Grigsby, P.C., Pittsburgh, PA, Counsel for Appellees.

Before MANSMANN, NYGAARD and ROSENN, Circuit Judges.


OPINION OF THE COURT

ROSENN, Circuit Judge.

The primary issue in this appeal raises important questions pertaining to the failure to disclose material corporate information as required by federal securities law in a corporation's repurchase of its capital stock. The Werner Company ("the Company"), founded by three brothers, was the largest manufacturer and marketer of ladders and other climbing products in the United States. The plaintiffs are the Anne Werner...

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