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LALONDE v. TEXTRON, INC.

Nos. 03-2033, 03-2039.

369 F.3d 1 (2004)

Linda L. LALONDE, et al., Plaintiff, Appellant, v. TEXTRON, INC.; Textron Savings Plan; Textron Savings Plan Committee; Putnam Fiduciary Trust Company and John Does 1-10, Defendants, Appellees. Machelle A. Simon-Grech, et al., Plaintiff, Appellant, v. Textron, Inc.; Textron Savings Plan; Textron Savings Plan Committee; Putnam Fiduciary Trust Company and John Does 1-10, Defendants, Appellees.

United States Court of Appeals, First Circuit.

Decided May 7, 2004.

Attorney(s) appearing for the Case

Lee Squitieri, with whom Squitieri & Fearon, LLP, David J. Strachman, McIntyre, Tate, Lynch & Holt, LLP, Charles J. Piven, Law Offices of Charles Piven P.A., Joe R. Whatley, Jr., Whatley Drake LLC, Kenneth A. Wexler, and The Wexler Firm, were on brief, for appellants.

Karl G. Nelson, with whom William J. Kilberg, Mitchell A. Karlan, Gibson, Dunn & Crutcher LLP, John A. Tarantino, Paul V. Curcio, and Adler, Pollock & Sheehan P.C., were on brief, for Textron Inc., Textron Savings Plan, and Textron Savings Plan Committee.

James S. Dittmar, P.C., with whom James O. Fleckner, John J. Cleary, P.C. (Of Counsel), Daniel P. Condon (Of Counsel), and Goodwin Procter, LLP, were on brief, for Putnam Fiduciary Trust Company.

Before TORRUELLA, LOURIE and HOWARD, Circuit Judges.

HOWARD, Circuit Judge.

Linda L. Lalonde and Machelle A. Simon-Grech, acting on behalf of a putative class of participants in and beneficiaries of an employee stock ownership plan ("ESOP") known as the Textron Savings Plan, brought lawsuits (that were eventually consolidated) against the plan; Textron, Inc. (the plan's sponsor); the Textron executives who allegedly administered the plan (the "Textron Savings Plan Committee"); and the plan's trustee, the Putnam Fiduciary...

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