LANGBECKER v. ELECTRONIC DATA SYSTEMS CORP.

No. 04-41760.

476 F.3d 299 (2007)

Richard LANGBECKER, et al., Plaintiffs-Appellees, v. ELECTRONIC DATA SYSTEMS CORP., et al., Defendants, Electronic Data Systems Corp., et al., Defendants-Appellants.

United States Court of Appeals, Fifth Circuit.

January 18, 2007.


Attorney(s) appearing for the Case

Barry Craig Barnett (argued), Jonathan Bridges, Ryan Laurence Nelson, Gretchen Sims Sween, Susman Godfrey, Dallas, TX, for Langbecker, ERISA, Vanderlip, Smith and Florer.

Joseph W. Wolfe, Wolfe, Clark, Henderson, Tidwell & McCoy, Sherman, TX, for Langbecker.

Ron Kilgard, Keller Rohrback, Phoenix, AZ, for Langbecker, ERISA, Vanderlip, Smith, Florer and Barnes.

Robert A. Izard, Jr., Schatz & Nobel, Hartford, CT, Jeffrey S. Abraham, Abraham Fruchter & Twersky, New York City, for ERISA.

James D. Baskin, III, The Baskin Law Firm, Austin, TX, for ERISA and Barnes.

Lynn Lincoln Sarko, Elizabeth A. Leland, Keller Rohrback, Seattle, WA, Gary A. Gotto, Keller Rohrback, Phoenix, AZ, for ERISA, Vanderlip and Smith.

Earl Glenn Thames, Jr., Potter Minton, Tyler, TX, for Vanderlip.

Brian Paul Sanford, Sheils, Winnubst, Sanford & Bethune, Richardson, TX, for Florer.

Howard Shapiro (argued), Robert Wilkinson Rachal, René E. Thorne, Proskauer Rose, New Orleans, LA, Otis W. Carroll, Deborah Johnson Race, Ireland, Carroll & Kelley, Tyler, TX, for Defendants-Appellants.

Timothy Francis Gavin, Fletcher L. Yarbrough, Michael Allen Birrer, Carrington, Coleman, Sloman & Blumenthal, Dallas, TX, for EDS Comp. & Ben. Com., Gray, Groves and Kidder.

Caroline Montrose Brown, John M. Vine, Joseph Zambuto, Jr., Covington & Burling, Washington, DC, for ERISA Industry Com., Am. Benefits Council, and ESOP Ass'n, Amici Curiae.

William J. Kilberg, Paul Blankenstein, Gibson, Dunn & Crutcher, Eugene Scalia, Acting Sol., U.S. Dept. of Labor, Washington, DC, for Business Roundtable, Chamber of Commerce of U.S. and Nat. Ass'n of Manufacturers, Amici Curiae.

Jeffrey G. Lewis, Claire Kennedy-Wilkins, Lewis, Feinberg, Renaker & Jackson, Oakland, CA, Robert Edward McKnight, Jr., Murphy & McKnight, New Orleans, LA, for Nat. Emp. Lawyers Ass'n, Amicus Curiae.

Mary Ellen Signorille, Michael Robert Schuster, American Ass'n of Retired Persons, Washington, DC, for AARP, Amicus Curiae.

Bruce F. Rinaldi, Cohen, Milstein, Hausfeld & Toll, John P. Holtz, Pension Rights Center, Washington, DC, Norman Stein, Tuscalousa, AL, Marc I. Machiz, Cohen, Milstein, Hausfeld & Toll, Philadelphia, PA, for Pension Rights Center, Amicus Curiae.

Elizabeth Hopkins (argued), U.S. Dept. of Labor, Washington, DC, for Chao, Secretary of Dept. of Labor, Amicus Curiae.

Before JONES, Chief Judge, and REAVLEY and GARZA, Circuit Judges.


EDITH H. JONES, Chief Judge, joined by EMILIO M. GARZA, Circuit Judge:

Although legal remedies exist for the alleged wrongs committed by Electronic Data Systems ("EDS") and its associated defendants for allegedly mismanaging the company's 401(k) Retirement Plan, the Rule 23(b)(1) or (b)(2) class action certified by the district court is not among them. The district court erroneously interpreted the impact, inter alia, of...

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