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ELMORE v. CONE MILLS CORP.

Nos. 92-1362, 92-1363, 92-1404 and 92-1482.

6 F.3d 1028 (1993)

William J. ELMORE; Wayne Comer, Individually and as representatives of a class of Plaintiffs similarly situated, Plaintiffs-Appellees, v. CONE MILLS CORPORATION; Cone Mills Acquisition Corporation; Dewey L. Trogdon; Lacy G. Baynes, Defendants-Appellants, and Paul W. Stephanz; Wachovia Bank and Trust Company, N.A., Defendants (Three Cases). William J. ELMORE; Wayne Comer, Individually and as representatives of a class of Plaintiffs similarly situated, Plaintiffs-Appellants, v. CONE MILLS CORPORATION; Cone Mills Acquisition Corporation; Dewey L. Trogdon; Lacy G. Baynes, Defendants-Appellees, and Paul W. Stephanz; Wachovia Bank and Trust Company, N.A., Defendants.

United States Court of Appeals, Fourth Circuit.

Decided September 22, 1993.

Rehearing Granted, Opinion Vacated December 13, 1993.

Attorney(s) appearing for the Case

John Robbins Wester, Robinson, Bradshaw & Hinson, P.A., Charlotte, NC, argued (David C. Wright, III, Robinson, Bradshaw & Hinson, P.A., Charlotte, NC, Robert O. King, Kristofer K. Strasser, Ogletree, Deakins, Nash, Smoak & Stewart, Greenville, SC, Robert J. Lawing, Jane C. Jackson, Robinson, Maready, Lawing & Comerford, Winston-Salem, NC, on brief), for defendants-appellants.

John P. Freeman, Columbia, SC, argued (James R. Gilreath, J. Kendall Few, Greenville, SC, on brief), for plaintiffs-appellees.

Before MURNAGHAN and WILLIAMS, Circuit Judges, and SPROUSE, Senior Circuit Judge.

Rehearing In Banc Granted, Opinion Vacated December 13, 1993.

OPINION

WILLIAMS, Circuit Judge:

In these cross-appeals the primary issue we must decide is whether representations by an employer made prior to the adoption of an Employee Stock Ownership Plan, but not incorporated into the formal plan documents, are enforceable against the employer. We conclude that such representations are not enforceable under the Employee Retirement Income Security...

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