Halldorson v. Wilmington Trust Retirement and Institutional Services Company

Filing 261

REDACTED MEMORANDUM OPINION. Signed by District Judge Leonie M. Brinkema on 11/3/2016. (rban, )

IN THE UNITED STATES DISTRICT COURT FOR THE
EASTERN DISTRICT OF VIRGINIA
Alexandria Division

TIM P. BRUNDLE, on behalf of the

ConstellisEmployee Stock OwnershipPlan,
and on behalf of a class of all other persons
similarly situated
Plaintiff

l:15-cv-1494 (LMB/IDD)

V.

WILMINGTON TRUST, N.A., as successor to

Wilmington Trust Retirement and
Institutional Services Company
Defendant.

REDACTED MEMORANDUM OPINION

On October 20,2016, the Court issued an order denying defendant's Motion to Exclude

Expert Testimony of DanaMessina, granting in part anddenying in partplaintiffs Motion for
Partial Summary Judgment, anddenying defendant's Motion for Summary Judgment. This

memorandum opinion supplements the reasoning articulated in open court.'
PlaintiffTimP. Brundle ("plaintiff' or "Brundle") is an employee of Constellis Holdings,

Inc. ("Constellis"),^ and was a participant inanemployee stock ownership plan ("ESOP")
established for the benefit of Constellis employees. Brundle has sued defendant Wilmington

Trust N.A. ("defendant" or "Wilmington"), the trustee for the ESOP in connection with two

transactions: the ESOP's acquisition of 100% of the outstanding voting shares of Constellis in

' Because therecord contains financial data thatis presently under seal, the Court has redacted
the publicly available version of this memorandum opinion; however, all undersealfilings will
be imsealedifthis civil action goes to trial because the financial data at issue are essential
evidence and the trial will not be sealed.

^Constellis Holdings, Inc., acquired Constellis Group, Inc., onJuly 25,2014; references to
"Constellis" in this memorandum opinion are to the latter.