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TOOMEY v. JONES

Civ. A. No. 92-30222-MAP.

855 F.Supp. 19 (1994)

Richard TOOMEY, Individually and on behalf of the O'Connor Lumber Esop Participants Committee, Plaintiffs, v. Robert L. JONES, Bernard St. George, Pension & Health Associates, Inc. and O'Connor Lumber Co. of Westfield, Inc., a/k/a O'Connor Lumber Co., Inc., Defendants.

United States District Court, D. Massachusetts.

June 24, 1994.

Attorney(s) appearing for the Case

John J. McCarthy, Michael J. Rye, Doherty, Wallace, Pillsbury & Murphy, Springfield, MA, for Richard Toomey.

Thomas E. Argenio, Springfield, MA, for Robert L. Jones.

Daniel M. Kelly, LaCroix, Fuller, Springfield, MA, for Bernard St. George.

Kenneth I. Gordon, David H. Peltz, Parker, Coulter, Daley & White, Boston, MA, for Pension & Health Associates, Inc.

MEMORANDUM REGARDING DEFENDANT PENSION & HEALTH ASSOCIATES, INC.'s MOTION FOR SUMMARY JUDGMENT

PONSOR, District Judge.

I. INTRODUCTION

The plaintiffs are former employees of O'Connor Lumber Company of Westfield, Massachusetts and were participants in its employer-sponsored stock ownership plan. In 1991, all the assets of the plan were invested in preferred stock of O'Connor Lumber. In that same year, O'Connor Lumber became insolvent...

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