Newman Howard v. Edward A. Shay

100 F.3d 1484 NEWMAN HOWARD; GILBERT LEON ALLEN; JOAN HOWARD; THEODORE H. POPE, AS REPRESENTATIVES OF PLAN PARTICIPANTS SIMILARLY SITUATED ON BEHALF OF THE EMPLOYEE STOCK OWNERSHIP PLAN OF PACIFIC ARCHITECTS AND ENGINEERS INCORPORATED, PLAINTIFFS-APPELLANTS, v. EDWARD A. SHAY; MARTIN L. LEHRER; RICHARD L. SMITH; ALLEN SHAY; PACIFIC ARCHITECTS AND ENGINEERS, INC., DEFENDANTS-APPELLEES. No. 93-56605 UNITED STATES COURT OF APPEALS FOR THE NINTH CIRCUIT Argued and Submitted July 10, 1995 Decided: November 22, 1996. Raymond G. Kolts, Gary C. Nawa, Kolts & Nawa, Pasadena, California, for the plaintiffs-appellants. Lester G. Ostrov, Fogel, Feldman, Ostrov, Ringler & Klevens, Santa Monica, California, for the defendants-appellees. Wayne R. Berry, United States Department of Labor, Plan Benefits Security Division, Washington, D.C., for the amicus curiae. Appeal from the United States District Court for the Central District of California. D.C. No. CV-91-00146-DT. Dickran M. Tevrizian, District Judge, Presiding. Before: Jerome Farris, Diarmuid F. O'Scannlain, and A. Wallace Tashima, * Circuit Judges. FARRIS, Circuit Judge: INTRODUCTION 1 The plaintiffs are participants in an Employee…