Edward Staudenmayer, Richard Kirkhart v. O.W.G. Products Inc., Employees' Defined Benefit Plan, Kernol Franklin Gant, et al.
Published: Jul. 1, 2000 | Result Date: Oct. 19, 1999 | Filing Date: Jan. 1, 1900 |Case number: EDCV990124RT Bench Decision – $1,132,270
Facts
Plaintiffs were long time employees of defendant O.W.G. Products Inc., which was 100 percent owned by defendant Gant. O.W.G. had a profit sharing pension plan and a money purchase pension plan. Plaintiffs were fully vested participants in both plans. When plaintiffs sought to obtain their pension benefits, defendant Gant refused to pay. Both the plan sponsor, O.W.G. and Gant filed for bankruptcy to avoid the pension litigation. Gant was refused a discharge of the obligation by the bankruptcy court. The plaintiff brought this action against the defendants based on breaches of ERISA, breach of fiduciary duty, prohibited transactions and violation of ERISA Section 502 (c) (2) refusal to provide plan documents.
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