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AGWAY, INC. EMPLOYEES' 401(K) THRIFT v. MAGNUSON

Civ.A. No. 5:03-CV-1060HGMGJD.

409 F.Supp.2d 136 (2005)

AGWAY, INC. EMPLOYEES' 401(K) THRIFT INVESTMENT PLAN, and State Street Bank & Trust Co., Plaintiffs, v. Nels G. MAGNUSON, et al., Defendants.

United States District Court, N.D. New York.

November 21, 2005.

Attorney(s) appearing for the Case

Hangley Aronchick Law Firm, Peter Levan, Jr., of counsel, Philadelphia, PA, Blitman, King Law Firm, Jules L. Smith, of counsel, Rochester, NY, for Plaintiffs.

Seyfarth, Shaw Law Firm, Mark Casciari, Deidre Grossman, of counsel, Chicago, IL, for Committee Defendants.

Proskauer, Rose Law Firm, Edward Cerasia, II, of counsel, Newark, NJ, for Director Defendants.

O'Melveny & Myers, LLP, Robert N. Eccles, Gary S. Tell, of counsel, Washington, D.C., Sonneborn Spring Law Office, James L. Sonneborn, of counsel, Syracuse, NY, for Defendant Boston Safe Deposit & Trust Co.

Orrick, Herrington Law Firm, James J. Caper, Jr., of counsel, New York City, Hancock & Estabrook, LLP, Daniel B. Berman, of counsel, Syracuse, NY, for Defendant PWC.

DECISION AND ORDER

PEEBLES, United States Magistrate Judge.

This is an action brought by the plaintiffs pursuant to the Employee Retirement Income Security Act of 1974 ("ERISA"), 29 U.S.C. § 1001 et seq., alleging significant breaches by various fiduciaries of their duties in relation to a pension plan established by Agway, Inc. ("Agway"), a non-party, for the benefit of its employees.1 One of the defendants...

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