(Download) "Hunter V. Caliber System" by Sixth Circuit U.S. Court of Appeals # Book PDF Kindle ePub Free
eBook details
- Title: Hunter V. Caliber System
- Author : Sixth Circuit U.S. Court of Appeals
- Release Date : January 02, 2000
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 84 KB
Description
These consolidated cases arise out of the January 1, 1996, spin-off of Defendant Roadway Express, Inc. ("REX") by its former parent company, Defendant Caliber System, Inc.*fn1 ("Caliber"), and the precipitous decline in the price of Caliber stock between July 1996 and August 1996 following the spinoff. Plaintiffs, employees of REX, alleged in their complaints that in connection with the spinoff, Defendants committed various breaches of fiduciary duty and other violations under the Employee Retirement Income Security Act of 1974, 29 U.S.C. §§ 1001 to 1461 ("ERISA"). Plaintiffs claim they lost substantial amounts in their retirement accounts when the price of Caliber stock declined because Caliber denied Plaintiffs a lump sum distribution of their account balances and REX delayed allowing Plaintiffs the opportunity to either sell or withdraw their Caliber stock. After certifying a class with regard to issues of liability, the district court granted summary judgment to Defendants on all claims. For the reasons that follow, we affirm the judgment of the district court.
 "Hunter V. Caliber System" by Sixth Circuit U.S. Court of Appeals # Book PDF Kindle ePub Free){kind=link}