United States Seventh Circuit

In an ERISA suit by participants and beneficiaries in an employee pension plan alleging that the plan's fiduciaries acted imprudently in failing to dispose of stock in the company, dismissal of the complaint is vacated and remanded where: 1) the question whether an ERISA plaintiff is a "participant" entitled to recover benefits under the Act should be treated as a question of statutory interpretation fundamental to the merits of the suit rather than as a question of the plaintiff's right to bring the suit; and 2) the receipt of a money judgment against the defendant will constitute the receipt of a plan benefit, thus making plaintiffs participants in the plan and allowing the suit to continue.

Appellate Information

• Argued 04/10/2007
• Decided 06/05/2007
• Published 06/05/2007

Judges

• POSNER, Circuit Judge., Before BAUER, POSNER, and RIPPLE, Circuit Judges.

Court

• United States Seventh Circuit

Counsel

• For Appellant:
  
• Mark C. Rifkin (argued), Wolf, Haldenstein, Adler, Freeman & Herz, New York, NY, Kathleen A. Delaney, Delaney & Delaney, Indianapolis, IN, for Plaintiffs-Appellants., Elizabeth Hopkins (argued), Department of Labor, Office of the Solicitor, Washington, DC, for Amicus Curiae.


• For Appellees:
  
• Brian T. Ortelere (argued), Morgan, Lewis & Bockius, Philadelphia, PA, Boris Feldman, Wilson, Sonsini, Goodrich & Rosati, Palo Alto, CA, John R. Schaibley, III, Baker & Daniels, Indianapolis, IN, for Defendants-Appellees.