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Emanual Schmalz, Individually, and On Behalf of All Others Similarly Situated v. Sovereign Bancorp

IN THE UNITED STATES DISTRICT COURT FOR THE EASTERN DISTRICT OF PENNSYLVANIA


April 17, 2012

EMANUAL SCHMALZ, INDIVIDUALLY, AND ON BEHALF OF ALL OTHERS SIMILARLY SITUATED
v.
SOVEREIGN BANCORP, INC., ET AL.

The opinion of the court was delivered by: J. William Ditter, Jr., J.

ORDER

AND NOW, this 17th day of April, 2012, upon consideration of the defendants' motion to dismiss (Dkt. # 30) and plaintiffs' response thereto, as well as the numerous supplemental filings by the parties,

IT IS HEREBY ORDERED that defendants' motion to dismiss is GRANTED in part and DENIED in part as follows:

1. Defendants' motion to dismiss is GRANTED as to counts I, II, III, V, and VI.

2. Defendants' motion to dismiss Count IV is GRANTED as to the Director Defendants, the Committee Defendants, and Defendant Knabb.

3. Defendants' motion to dismiss Count IV is DENIED as to defendants Sovereign Bancorp, Inc. and the Retirement Savings Plan Committee.

BY THE COURT:

J. William Ditter, Jr.

20120417

© 1992-2012 VersusLaw Inc.



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