Perigo
Perigo v. Hoffer
Opinion
Opinion
Damrell, J.
MEMORANDUM AND ORDER
This matter is before the court on defendants Terrence L. Hoffer, M.D., Terrence L. Hoffer, M.D. Inc. Profit Sharing Plan, and Terrence L. Hoffer, M.D., a professional corporation’s (collectively, “defendants”) motion to dismiss plaintiff Donna Y. Perigo’s complaint against them. Fed. R.Civ.P. 12(b)(6). For the reasons set forth below, the court DENIES defendants’ motion.
BACKGROUND
Plaintiff worked for defendants for approximately 18 years as a nurse and doctor’s assistant. (Compl., filed Sept. 21, 2004, ¶7.) Toward the end of plaintiffs employment, the firm’s pension plan consisted heavily of stock in a small oil drilling company, Arena Resources, Inc. (“Arena”). (Id. at ¶ 13.) The stock was carried on defendants’ books at $1.75 per share, yet at the time plaintiff retired, the shares traded publicly at $4.50 per share. (Id. at ¶ 14.) Defendants, however, allegedly ignored this fact and paid out plaintiffs retirement distribution benefit pn the basis of their own, self-serving, $1.75 per share valuation. (Id.) Plaintiff was paid her lump sum retirement benefit on September 23, 2003 in the amount of $74,954.50. (Id. at ¶ 17.)