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ARMSTRONG v. LASALLE BANK NAT. ASS'N

No. 05-3417.

446 F.3d 728 (2006)

Juan ARMSTRONG, et al., on behalf of themselves and others similarly situated, Plaintiffs-Appellants, v. LASALLE BANK NATIONAL ASSOCIATION, Defendant-Appellee.

United States Court of Appeals, Seventh Circuit.

Decided May 4, 2006.

Attorney(s) appearing for the Case

Pamela B. Slate (argued), Slate Kennedy, Montgomery, AL, Gary D. McCallister, McCallister & Associates, Chicago, IL, for Plaintiffs-Appellants.

Theodore M. Becker (argued), Morgan, Lewis & Bockius, Chicago, IL, for Defendant-Appellee.

Ellen L. Beard (argued), Dept. of Labor, Office of the Solicitor, Washington, DC, for Amicus Curiae.

Before CUDAHY, POSNER, and WOOD, Circuit Judges.

POSNER, Circuit Judge.

Amsted Industries, Inc., a manufacturer of railroad and other transportation equipment, has for many years been owned entirely by its employees (including retired employees) through an Employee Stock Ownership Plan (an ESOP), which is subject to ERISA. 29 U.S.C. §§ 1104(a)(2), 1107(b), (d)(6); Steinman v. Hicks, 352 F.3d 1101, 1102-03 (7th Cir.2003...

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