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WRIGHT v. OREGON METALLURGICAL CORP.

No. 02-35853.

360 F.3d 1090 (2004)

Richard WRIGHT; Greg S. Buchanan; and Darell Hagan, Plaintiffs-Appellants, v. OREGON METALLURGICAL CORPORATION, dba Oremet Titanium; Carlos Aguirre; Dennis Opinion P. Kelly; Gary Weber; Jack Cox; Key Trust Company of the Northwest; and United Steel Workers of America Local 7150, Defendants-Appellees.

United States Court of Appeals, Ninth Circuit.

Filed March 11, 2004.

Attorney(s) appearing for the Case

Gary D. Greenwald (argued), Columbus, Ohio; Anne Marie La Bue, Columbus, Ohio; James C. Egan, Albany, Oregon, for the plaintiffs-appellants.

Douglas L. Greenfield, Washington, D.C.; Leon Dayan, Washington, D.C. (argued), for defendant-appellee United Steelworkers of America Local 7150.

Brian T. Ortelere, Philadelphia, Pennsylvania (argued); Amy Promislo, Philadelphia, Pennsylvania, for defendants-appellees Oregon Metallurgical Corp., Carlos E. Aguirre, Dennis P. Kelly, Gary Weber, and Jack Cox.

Brian J. Lamb, Cleveland, Ohio; Gary L. Walters, Cleveland, Ohio, for defendant-appellee Key Trust Company of the Northwest.

Before: Susan P. GRABER, Richard C. TALLMAN, and Richard R. CLIFTON, Circuit Judges.

Argued and Submitted January 7, 2004 — Seattle, Washington.

Opinion by Judge Clifton.

OPINION

CLIFTON, Circuit Judge:

The Oregon Metallurgical Corporation ("Oremet") in the late 1980s established a stock bonus pension plan for its employees (the "Plan"). The Plan's terms mandated that a defined minimum percentage of each Plan participant's portfolio had to be invested in Oremet stock. Following Oremet's merger with another company...

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