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HUSVAR v. RAPOPORT

No. 01-4254.

430 F.3d 777 (2005)

James R. HUSVAR, Sidney B. Gutzwiller, Robert V. Caruso, and Ronald W. Barnett, individually and as the representatives of the plaintiff class, Plaintiffs-Appellants, v. Michel RAPOPORT, William A. Marquard, Thomas R. Wall, and Robert A. Young III, Defendants-Appellees.

United States Court of Appeals, Sixth Circuit.

Decided and Filed: October 3, 2005.

Rehearing Denied December 9, 2005.

Attorney(s) appearing for the Case

ARGUED: Robert A. Steinberg, Waite, Schneider, Bayless & Chesley, Cincinnati, Ohio, for Appellants. Robert E. Zimet, Skadden, Arps, Slate, Meagher & Flom, LLP, New York, New York, for Appellees. ON BRIEF: Robert A. Steinberg, Waite, Schneider, Bayless & Chesley, Cincinnati, Ohio, Richard S. Wayne, Strauss & Troy, Cincinnati, Ohio, for Appellants. Robert E. Zimet, Susan L. Saltzstein, Skadden, Arps, Slate, Meagher & Flom, LLP, New York, New York, for Appellees.

Before: BOGGS, Chief Judge; GUY and DAUGHTREY, Circuit Judges.

Rehearing En Banc Denied December 9, 2005.

AMENDED OPINION

DAUGHTREY, Circuit Judge.

The plaintiffs, all of whom are shareholders and former employees of Mosler, Inc., brought this class action in Ohio state court against the company itself and against four members of the Mosler board of directors, seeking recompense for the diminution in value of company stock that, in part, was used to fund employee retirement

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