Kirschbaum vs. Reliant Energy, Inc., 06-20157
Certification of a class and grant of corporate defendants' motion for summary judgment on all claims related to plaintiff-employee's ERISA class action is affirmed where: 1) even if defendants had a fiduciary duty to liquidate a particular investment option in the plan (defendant-company's stock fund) and cease purchasing its shares, notwithstanding the plan's express contrary requirements; nevertheless, 2) plaintiff fell short of bearing his heavy burden to rebut the presumption that defendants satisfied their legal duties.
- Decided 04/25/2008
- Published 04/28/2008
- EDITH H. JONES, Chief Judge:, Before JONES, Chief Judge, and STEWART and CLEMENT, Circuit Judges.
- United States Fifth Circuit
- For Appellant:
- Paul O. Paradis, Gina M. Tufaro, Horwitz, Horwitz & Paradis, New York City, Robert A. Izard, Jr. (argued), Eric Lee Palmquist, Schatz Nobel Izard P.C., Hartford, CT, John G. Emerson, Jr., Emerson Poynter, Houston, TX, for Brad Kirschbaum and Raymond Royer., Mary Ellen Signorille, Melvin Radowitz, American Ass'n of Retired Persons, Washington, DC, for American Ass'n of Retired Persons, Amicus Curiae., Jeffrey G. Lewis, Lewis, Feinberg, Renaker & Jackson, Oakland, CA, for Nat. Employment Lawyers Ass'n, Amicus Curiae., Elizabeth Hopkins (argued), U.S. Dept. of Labor, Washington, DC, for Elaine Chao, Amicus Curiae., Lawrence H. Hunt, Jr., Sidley Austin, Chicago, IL, for Reliant Energy, Inc., T. Milton Honea, Milton Carroll, John T. Cater, Richard E. Balzhiser and James A. Baker, III.
- For Appellees:
- James Edward Maloney (argued), Maria Wyckoff Boyce, Aaron Michael Streett, Baker Botts, David Keith Isaak, David Gerger & Associates, Houston, TX, for Defendants-Appellees.