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CLARK v. STANLEY FURNITURE COMPANY, LLC

Civil Action No. 4:20-cv-00063.

566 F.Supp.3d 527 (2021)

Melvin CLARK, et al., Plaintiffs, v. STANLEY FURNITURE COMPANY, LLC, et al., Defendants.

United States District Court, W.D. Virginia, Danville Division.

Signed October 14, 2021.

Attorney(s) appearing for the Case

Carrol Mullen Ching, Daniel Jacob Martin, John Palmer Fishwick, Jr., Fishwick & Associates, PLC, Roanoke, VA, for Plaintiffs Melvin Clark, Jay N. Busey, Kelly S. Cain, Jesse V. Cannaday, Charles William Cubberley, Jr., Calvert Fulcher, Jr., John W. Johnson, Dave P. Maddox, Douglas I. Payne, William G. Perdue, William A. Sibbick, Jr., Robert J. Smith, Alexander Teglas, Jr., Robert Anthony Vanore, Larry E. Webb, Jr., John Hart Matthews, Phyllis Haley.

Amanda M. Morgan, Glenn Walthall Pulley, Gentry Locke Rakes & Moore, LLP, Lynchburg, VA, for Defendants Stanley Furniture Company LLC, Stanley Interiors Corporation Deferred Compensation Capital Enhancement Plan.

J. David Folds, John G. McJunkin, Baker, Donelson, Bearman, Caldwell & Berkowitz PC, Washington, DC, Richard Andrew Hutchinson, Baker Donelson, Johnson City, TN, for Defendants Stone & Leigh, LLC, Supplemental Retirement Plan of Stanley Furniture Company, Inc.

MEMORANDUM OPINION

Several decades ago, Stanley Furniture Company, LLC ("SFC") allowed executives to defer compensation until their later working years, or even retirement. The deferrals were a good deal, accruing high interest on beneficial tax terms.

But the...

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