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IN RE ALLERGAN ERISA LITIGATION

No. 18-2729.

975 F.3d 348 (2020)

IN RE: ALLERGAN ERISA LITIGATION. Andrew J. Ormond, on behalf of the Allergan, Inc. Savings and Investment Plan, the Actavis, Inc. 401(k) Plan, himself, and a class consisting of similarly situated participants of the Plan; Jack Xie, Appellants.

United States Court of Appeals, Third Circuit.

Filed: September 18, 2020.

Attorney(s) appearing for the Case

Jacob H. Zamansky , Samuel E. Bonderoff [ARGUED], Zamansky, LLC, 50 Broadway — 32nd Floor, New York, NY 10004, Gary S. Graifman , Kantrowitz Goldhamer & Graifman, 210 Summit Avenue, Montvale, NJ 07645, Michael J. Klein , Abraham Fruchter & Twersky, One Penn Plaza — Suite 2805, New York, NY 10119, Mark Levine , 324 Third Avenue, Pelham, NY 10803, Patrick K. Slyne , Stull Stull & Brody, 6 East 45th Street, New York, NY 10017, Counsel for Appellants.

Anjuli M. Cargain , Robert D. Eassa , Paul J. Killion , Duane Morris, One Market Plaza, Spear Tower, Suite 2200, San Francisco, CA 94105, Joseph F. Falgiani , Joseph G. Harraka, Jr. [ARGUED], David G. Tomeo , Robert D. Towry , Becker, LLC, 354 Eisenhower Parkway, Plaza II, Suite 1500, Livingston, NJ 07039, Counsel for Appellee.

Before: JORDAN, BIBAS, and NYGAARD, Circuit Judges.

OPINION

In this appeal from the dismissal of a putative class action, we are asked to decide whether plaintiffs Andrew J. Ormond and Jack Xie, former employees of Allergan plc ("Allergan," or the "Company") and participants in the Company's employee stock ownership plan ("ESOP"), have plausibly alleged that the defendants...

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