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STEINMAN v. HICKS

No. 00-3260.

252 F.Supp.2d 746 (2003)

Vern STEINMAN, Floyd Sinclair, and Ron Eickelschulte, on behalf of themselves and those similarly situated, Plaintiffs, v. Teresa HICKS, Frank Ciastko, Charles Archer, Douglas Schmalz, Maureen Ausura, David Smith, and the Moorman Profit Sharing Plan, Defendants.

United States District Court, CD. Illinois, Springfield Division.

March 24, 2003.

Attorney(s) appearing for the Case

Steven A. Katz, Douglas R. Sprong, Belleville, IL, for Plaintiff.

James A. Peckert, A. James Shafter, Decatur, IL, for Defendant.

OPINION

RICHARD MILLS, District Judge.

Under the circumstances, did Defendants breach their fiduciary duty under ERISA to Plaintiffs in continuing to invest 65% of the Moorman Profit Sharing Plan's assets in Archer-Daniels-Midland common stock after the termination of the Plan?

No.

Summary judgment for Defendants.

I. BACKGROUND

On December 30, 1997, the Archer-Daniels-Midland Company ("ADM") acquired the Moorman Manufacturing...

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