UNITED STATES DISTRICT COURT FOR THE EASTERN DISTRICT OF PENNSYLVANIA
August 31, 2010
WILLIAM STANFORD, JR., INDIVIDUALLY AND ON BEHALF OF ALL OTHER SIMILARLY SITUATED PERSONS AND ON BEHALF OF THE FOAMEX L.P. SAVINGS PLAN, PLAINTIFF,
FOAMEX L.P., ET AL., DEFENDANTS.
The opinion of the court was delivered by: William H. Yohn Jr., Judge
AND NOW on this 31st day of August, 2010, upon consideration of the motion for partial summary judgment of plaintiffs (Docket No. 114) regarding the counterclaims of defendants K. Douglas Ralph, Gregory J. Christian, George L. Karpinksi, and Stephen Drap (the "Committee Defendants") and defendant Fidelity Management Trust Co. ("Fidelity"), the Committee Defendants' opposition to plaintiffs' motion and cross-motion for partial summary judgment regarding their counterclaim (Docket No 121), Fidelity's opposition to plaintiffs' motion and cross-motion for partial summary judgment on its counterclaim (Docket No. 127), and the parties' additional memoranda, IT IS HEREBY ORDERED that:
(1) plaintiffs' motion for partial summary judgment is DENIED;
(2) the motions for partial summary judgment of the Committee Defendants and Fidelity are GRANTED and judgment is ENTERED against plaintiffs and in favor of the Committee Defendants (K. Douglas Ralph, Gregory J. Christian, George L. Karpinksi, and Stephen Drap), Foamex L.P., and Fidelity Management Trust Co. on defendants' counterclaims; and
(3) Paragraph 10 of Amendment No. 4 to the Foamex L.P. Savings Plan (having been drafted in error) is reformed to eliminate the words "or out of" from the sentence "Effective July 20, 2005, a Member may no longer direct new investments into, or transfer existing investments into or out of, the Foamex Stock Fund."
© 1992-2010 VersusLaw Inc.