Southern California Meat Cutters Unions & Food Employers Pension Trust Fund v. Investors Research Co.
Opinion
Opinion
Takasugi, J.
ORDER GRANTING IN PART AND DENYING IN PART MOTION TO DISMISS
This matter has come before the court on the motion by defendants Bateman Eichler, Hill Richards, Inc. (“BEHR”) and Ritt Berry (“Berry”) to dismiss the claims alleged against them. Said claims are the second count for intentional infliction of emotional distress, fifth count for fraud and sixth count for violation of the Securities and Exchange Act of 1934, Section 10(b) and Rule 10b-5.
The complaint herein was filed by the Southern California Meat Cutters Unions and Food Employers Pension Trust Fund and the individual trustees (collectively “Pension Trust Fund”) against Investors Research Company (“IRC”), BEHR and Berry. According to the complaint, the Pension Trust Fund entered into a written agreement (“Agreement”) with defendant IRC under which IRC was to invest and manage some of plaintiffs’ assets. The Agreement specified that IRC would carry out its management of the assets in accordance with, but not limited to, provisions of the Employment Retirement Income Security Act, 29 U.S.C. §§ 1001 et seq. (“ERISA”), including the fiduciary standards of § 1104(a).