In Re Syncor ERISA Litigation

Proceedings: (IN CHAMBERS) MOTION FOR SUMMARY JUDGMENT OF DEFENDANT SYNCOR INTERNATIONAL CORPORATION AND ROBERT G. FUNARI (DE 161); AND MOTION FOR SUMMARY JUDGMENT FILED BY DEFENDANT MONTY FU (DE 168)

I. INTRODUCTION

This is a class action brought on behalf of all persons who were participants in Syncor International Corporation’s (“Syn-cor”) ERISA Plan. The class alleges that Syncor and two members of Syncor’s Board of Directors (“Board”) (collectively, “Defendants”) violated their fiduciary duty to Plaintiffs by investing in Syncor stock while the company was engaged in an international bribery scheme.

Presently before the Court is Defendant Syncor and Defendant Robert G. Funari’s (“Funari”) Motion for Summary Judgment. Also before the Court is Defendant Monty Fu’s (“Fu”) Motion for Summary Judgment. For the reasons set forth below, the Court grants Syncor and Funari’s Motion for Summary Judgment and grants Fu’s Motion for Summary Judgment.

II. FACTUAL BACKGROUND

According to the parties’ allegations, the pertinent facts are as follows:

The eight named Plaintiffs in this case were all employed by Syncor between July 26, 2000, and January 1, 2008 (the “class period”) and…