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COX ENTERPRISES, INC. v. PENSION BEN. GUAR. CORP.

Nos. 10-14240, 10-14305.

666 F.3d 697 (2012)

COX ENTERPRISES, INC., a Delaware corporation, Plaintiff-Appellee, v. PENSION BENEFIT GUARANTY CORPORATION, United States Government Agency, Interested Party-Appellant. Cox Enterprises, Inc., a Delaware corporation, Plaintiff-Appellee, v. Marc L. Davidson, Julia Davidson Truilo, Robert Truilo, Defendants-Appellants.

United States Court of Appeals, Eleventh Circuit.

January 4, 2012.

Attorney(s) appearing for the Case

Stacy D. Blank , Holland & Knight, LLP, Tampa, FL, for Plaintiff-Appellant.

John A. DeVault, III , Courtney K. Grimm , Bedell, Dittmar, DeVault, Pillans & Coxe, Jacksonville, FL, Peter Canfield , Lesli N. Gaither , Dow Lohnes, PLLC, Atlanta, GA, Roberta A. Colton , Trenam, Kemker, Scharf, Barkin, Frye, O'Neill & Mullis, PA, Tampa, FL, for Plaintiffs-Appellees.

Jennifer M. Tontz , Pension Benefit Guaranty Corp., Washington, DC, for Interested Party-Appellant.

Stacy D. Blank , Michael L. Chapman , Brandon Faulkner , Robert W. Lang , Holland & Knight, LLP, Tampa, FL, Franklin G. Burt , Jorden Burt, LLP, Miami, FL, Bruce A. Hanna , Cobb & Cole, PA, Daytona Beach, FL, for Defendants-Appellants.

Before MARCUS, WILSON and COX, Circuit Judges.

COX, Circuit Judge:

Marc L. Davidson, Julia Davidson Truilo, Robert Truilo (the "Davidson Directors"), and the Pension Benefit Guaranty Corporation ("PBGC") appeal following the district court's order to distribute all of News-Journal Corporation's ("News-Journal") assets to Cox Enterprises, Inc. ("Cox"), a long-time shareholder of the closely-held News-Journal. Cox sued News-Journal in response to perceived abuses by News-Journal's directors in the handling of corporate...

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