Mushroom Transportation Company Inc v. H & Pc’s Empirical Analysis

Citation profile

9 federal appellate · 7 district · 1 state decisions

Most-quoted passages

The sentences later courts lift from this opinion, ranked by how many decisions quote each — the parts of the opinion doing the work. These counts are smaller than the citation total above because most of the 69 citing decisions cite the case generally; a passage count includes only decisions quoting that exact language verbatim.

1. “a person is a fiduciary with respect to a plan to the extent (i) he exercises any discretionary authority or discretionary control respecting management of such plan or exercises any authority or control respecting management or disposition of its assets, (ii) he renders investment advice for a fee or other compensation, direct or indirect, with respect to any moneys or other property of such plan, or has any authority or responsibility to do so, or (iii) he has any discretionary authority or discretionary responsibility in the administration of such plan.”

   2 later decisions quote this exact passage · from the majority
   e.g. Koken v. Pension Benefit Guaranty Corp.(PBGC) · In re Wilmington Trust Corp.

2. “Count I (by the trustee against PVHR [Pincus] and Ganz seeking a “turnover” of estate property); Count II (by the trustee against PVHR alleging a breach of fiduciary duty based on their position as escrow agent); Counts III and V (by the trustee against Continental Bank asserting a breach of fiduciary duties for releasing estate property to Ganz and for wrongful conversion of the estate property); Count VI (by the trustee against PVHR and Continental Bank alleging breach of contract for violating the June 1987 stipulation or any other implied contract); Count VII (by the trustee against the shareholders of PVHR alleging failure to exercise rea sonable care to ensure that the lawyers within their firms safeguarded client assets); and Count VIII (by the trustee and the pension funds and administrators against PVHR and Continental Bank claiming that these defendants violated fiduciary duties under the Employee Retirement Income Security Act of 1974 (“ERISA”) as custodians of plan assets).”

   1 later decision quote this exact passage · from the majority
   e.g. In re Mushroom Transportation Co.

3. “We should stress that we do not hold here that the existence of a fiduciary, lawyer-client relationship between Ganz and Mushroom, and Ganz’s abuse of that relationship, alone preclude judgment as a matter of law in PVHR’s and its shareholders’ favor. But as the district court noted in Gurfein, “the presence of a fiduciary relationship would be pertinent to the question of when a plaintiffs duty to investigate arose.” 826 F.Supp. at 919 n. 31 (citation omitted). Ganz was no stranger to Mushroom and Arnold— he was Mushroom’s lawyer, bound by professional rules of ethics to the highest duties of honesty and probity in his dealings with his client. As the cases discussed above illustrate, the existence of a fiduciary relationship is relevant to a discovery rule analysis precisely because it entails such a presumptive level of trust in the fiduciary by the principal that it.may take a “smoking gun” to excite searching inquiry on the principal’s part into its fiduciary’s behavior,”

   1 later decision quote this exact passage · from the majority
   e.g. Burtch v. Ganz (In Re Mushroom Transportation Co.)