HomeMy WebLinkAbout11-21-03NANCY B BLAKELY TRUST
IN THE COURT OF COMMON
PLEAS OF CUMBERLAND COUNTY,
PENNSYLVANIA
ORPHANS' COURT DIVISION
No 21-2003-883
OBJECTIONS TO THE SCHEDULE OF PROPOSED DISTRiBUTION
AND FIRST AND PARTIAL ACCOUNT OF MANUFACTURERS AND
TRADERS TRUST CO, CO-TRUSTEE
Joseph D Brenner, Sr, Joseph D Brenner, Jr, and Margaret Bushey, by thmr
attorneys, Tonkon Torp LLP and Snelbaker, Brehneman & Spare PC, subm~t these Objectmn§ to
the Schedule of Proposed Distribution and First and Final Account of Manufacturers and Traders
Trust Co ("M&T"), Co-Trustee, as follows
1 Joseph D Brenner, Sr ("Brenner Sr "), Joseph D Brenner, Jr ("Brenner
Jr "), and Margaret Bushey (collectively "the Brenner Family"), objectors here~n, are each adult
individuals residing m Carhsle, Pennsylvania
2 Brenner Sr was the husband of Jane W Brenner, deceased, who created
the Nancy B Blakely Trust ("Blakely Trust"), also ldentffied by account number 41-7090-60-2
Brenner Sr is co-trustee of the Blakely Trust, and he does not jo~n ~n M&T's accounttng
3 Brenner Jr and Bushey are children of Brenner Sr and Jane W Brenner
Nancy B Blakely is their sister
4 On June 12, 2002, while acting as co-Trustee, M&T hqmdated all Tyco
stock holdings in the Blakely Trust
5 Since June 12, 2002, there has been an ongoing d~spute between M&T and
the Brenner Family, regarding M&T's conduct as co-trustee of the Blakely Trust
6 On August 22, 2003, the Brenner Family filed stat agmnst M&T, an M&T
employee, and a former M&T employee, ~n the Clwl Division of the Court of Common Pleas of
Cumberland County (Civil Case No 03-4125), in connection with M&T and its employees'
conduct as co-trustee of the Blakely Trust and three other trusts established by Brenner Sr and/or
Jane W Brenner
7 On or about October 24, 2003, M&T filed its Schedule of Proposed
Distribution and First and Final Account for the Blakely Trust in the Orphans' Court Division of
the Court of Common Pleas of Cumberland County Confirmation is scheduled for November
25, 2003, at 9 30 a m
8 Brenner, Sr, Brenner Jr, and Bushey object to the Schedule of Proposed
Distribution and First and Final Account for the following reasons
a There are outstanding questions of fact and law regarding the
propriety of M&T's conduct as co-Trustee of the Blakely Trust The Brenner
Family's allegations regarding M&T's breaches of fiduciary duty are contained in
the civil complaint, which is incorporated by reference and attached hereto as
Exhibit A for the court's convenience
b The Brenner Family filed its complaint against M&T in the Civil
Division over two months prior to M&T filing its Schedule of Proposed
Distribution and First and Final Account in the Orphans' Court Division As
such, the outstanding factual and legal questions regarding M&T's conduct as co-
trustee are properly for the Clwl Division to resolve prior to the Orphans' Court
taking any action in connection with the trust
c It would be improper for this court to confirm M&T's Schedule of
Proposed Distribution and First and Final Account for the Blakely Trust prior to
the Civil Division's resolution of the outstanding factual and legal questions, and
doing so could have a prejudicial effect on the pending civil litigation
d M&T's preliminary objections to the civil complaint are scheduled
for argument in the Civil Division on December 3, 2003
e The Brenner Family further objects to the Schedule of Proposed
2
D~stnbutlon and First and Final Account on the grounds that they have not had
suffiment opportunity to rewew the financial data contained therein ~n order to
assure ~ts accuracy
f The Brenner Family further objects to the Schedule of Proposed
D~smbut~on and First and Final Account on the grounds that all persons knoxvn to
have or clmm an interest in the trust have not received notice of the Schedule of
Proposed Distribution and First and F~nal Account, or the date, time and place of
the audtt, as required by Orphans' Court Rule 6 3 The Brenner Family ~ntends to
coordinate with M&T to prowde notice to the multiple contingent beneficiaries of
the trust, but such beneficiaries have not received notice to date and have not had
an opportumty to file thmr own objections
g The Brenner Famdy further objects to the Schedule of Proposed
D~stnbutlon and First and Final Account on those addltmnal grotmds to be
determined upon a complete rewew of the financial data contained therein
WHEREFORE, Joseph D Brenner, Sr, Joseph D Brenner, Jr, and Margaret
Bushey, request th~s Court to deny confirmation of the Schedule of Proposed D~stnbut~on and
First and F~nal Account of Manufacturers and Traders Trust Co, Co-Trustee, unttl such t~me as
the objections raised herein are addressed and resolved, and the ht~gatlon pending in the Civil
Dlmslon is concluded
DATED this ol! day of November, 2003
SNELBAKER, BRENNEMAN & SPARE, P C
Keith O Brenneman, Esquire
Richard C Snelbaker, Esquire
44 W Main Street
Mechamcsburg, PA 17055
(717) 697-8528
Attorneys for Joseph D. Brenner, Sr, Joseph D
Brenner, and Margaret B Bushey
TONKON TORP
William F Martson, Jr, OSB No 72163
Robyn E Rider, OSB No 00016
1600 Pioneer Tower
888 SW Fifth Avenue
Portland, OR 97204
(503) 802-2005
Attomeys for Joseph D Brenner, Sr, Joseph D
Brenner, Jr, and Margaret B Bushey
031590\00001 X543008 V001
JOSEPH D BRENNER, SR, JOSEPH D
BRENNER, JR, and MARGARET B BUSHEY,
Plamuffs,
V
1N THE COURT OF COMMON PLEAS
OF CUMBERLAND COUNTY,
PENNSYLVANIA
CIVIL ACTION- LAW
MANUFACTURERS AND TRADERS TRUST
COMPANY, a New York corporation, DAVID C JURY TRIAL DEMANDED
GORITY, an individual, and CURT R
STAUFFER, an lndiv~dual,
Defendants
COMPLAINT
PARTIES
1
Pla,ntfffJoseph D Brenner, Sr ("Brenner Sr ") ~s and was, at all material t~mes,
an ~nd~v~dual residing ~n Carl,sle, Cumberland County, Pennsylvama Brenner Sr is suing m his
capacity as a trustee of three certa,n trusts described hereto
2
Plaintiff Joseph D Brenner, Jr ("Brenner Jr ") ~s and was, at all material Umes, an
lndtv~dual residing ,n Carhsle, Cumberland County, Pennsylvan,a Brenner Jr ~s suing ~n his
capactty as a trustee ora certain trust described here,n
3
Plaintiff Margaret B Bushey ("Bushey") ~s and was, at all material t,mes, an
individual residing in Carlisle, Cumberland County, PennsyIvama Bushey ,s suing in her
capaoty as a trustee ora certa,n trust described hereto
4
Upon mfom~atlon and behef, defendant Manufacturers and Traders Trust
EXHIBIT A
Company ("M&T") is and xvas, at all material times, a New York corporation doing business in
Cumberland County, Pennsylvania M&T is the successor in interest of Farmers Trust Company
5
Upon information and belief, defendant David C Gonty, is and was, at all
material times, an individual residing in Carhsle, Cumberland Connty, Pennsylvania
6
Upon informatmn and belief, defendant Curt R Stauffer, is and was, at all
material times, an individual residing in Mechamcsburg, Cumberland County, Pennsylvania
FACTS COMMON TO ALL CLAIMS
7
PlaintlffBrenner Sr is the fom~er CEO of Amp, Inc ("Amp"), an electrical
products company based in Harrisburg, Pennsylvania, that was acqmred by Tyco International
Ltd ("Tyco") in 1998 As an executive of Amp, Brenner Sr acquired numerous shares of Amp
stock, which were subsequently converted into shares of Tyco stock
8
Plaintiffs Brenner Jr and Bushey are two of the four children of Brenner Sr and
his wife Jane Brenner, now deceased The other two children are Nancy B Btakely and
Katherine B Menges
9
In the early 1990s, Brenner Sr and Jane Brenner created several trusts for the
benefit of their children and grandchildren The sole assets placed into these trusts were shares
of Amp stock
10
On or about November 23, 1994, Brenner Sr and Jane Brenner executed an
Irrevocable Agreement of Trust, which created a trust for the benefit of their four children and,
upon their children's deaths, their grandchildren (hereinafter "the Grandchildren's Trust") Under
2
the terms of the trust instrument, defendant M&T (as successor to Farmers Trust Company),
plamtlffBushey, and plamt~ffBrenner Jr have been co-trustees of the Grandchddren's Trust
s~nce Jane Brenner's death on October 24, 1997
11
The Grandchildren's Trust ~s mamtmned at M&T and ~s ~dent~fied by M&T as
account number 43-1075-60-5
12
On or about November 23, 1994, Jane Brenner executed an Amendment and
Restatement to Declaranon of Trust, which created four trusts, hereinafter referred to as the Jane
Brenner "A" Trust, the Jane Brenner "B" Trust, the Jane Brenner "C" Trust, and the Blakely Trust
(hereinafter, collectwely, "the Children's Trusts") These trusts are for the benefit of Brenner Sr.
and the four Brenner chddren Under the terms of the trust instrument, defendant M&T (as
successor to Farmers Trust Company) and plamt~ffBrenner Sr have been co-trustees of the
Children's Trusts s~nce Jane Brenner's death on October 24, 1997
13
The Jane Brenner "A' Trust was never funded and ~s not at ~ssue ~n th~s hngatton
14
The Jane Brenner "B" Trust ~s maintained at M&T and ts ~dent~fied by M&T as
account number 32-1056-60-8
15
The Jane Brenner "C" Trust ~s mamtmned at M&T and ts identified by M&T as
account number 32-1057-60-6
16
The Blakely Trust ts maintained at M&T and ~s ~dent~fied by M&T as account
number 41-7090-60-2
IIIII
17
Since his wife Jane Brenner's death on October 24, 1997, Brenner Sr's health and
business acumen have both dechned s~gmficantly This fact ~s and was well known to M&I
Plaintiffs have a long-standing business relanonsh~p w~th M&T Vice President and Trust Officer
David Gonty ("Gor~ty") Gonty has been the M&T officer pnncipally responsible for fulfilhng
M&T's fiduciary obhgat~ons in regards to the Chddien's Trusts and the Grandchildren's Trust
since the trusts' creation Among other th~ngs, Gonty knows that Brenner Sr is 8~,ears old,
suffers profound heanng loss, and has significantly impaired vts~on due to cataracts On several
occasions since Jane Brenner's death, Gorlty has communicated to plaintiff Bushey his
perception that Brenner Sr ~s easily confused about financml details, requires mformatmn to be
repeated multiple t~mes (often over a period of days), and generally seems to be slowing down
and losing confidence ~n h~s abd~ty to make business decisions
18
Because of the decline in Brenner Sr's health and abdxties, and given Brenner Jr
and Bushey's status as co-trustees of the Grandchddren's Trust, Gonty has consistently invited
Brenner Jr and Bushey to attend meetings revolving the dlscuss~on or decision of substantive
financial issues for the Children's Trusts since 1997 In fact, in or about the summer of 1998,
Gonty told Bushey that he behe',ed she and/or her brother should attend any meetings at which
decisions xvould be made about the Children's Trusts m light of Brenner Sr's reduced capacity
Bushey agreed She and her brother, either or both, attended all subsequent meetings regarding
the Children's Trusts to which Gor~ty ~nwted them On at least one occasion, Brenner Sr's
accountant also attended a meeting to assist h~m
19
In fall 2001, Curt Stauffer, an Assistant Vice President and Portfolio Manager at
M&T, began assisting Gonty with the exercise of M&T's fiduciary obhgations regarding the
Children's Trusts and the Grandchildren's Trust
4
20
On or about January 23, 2002, Gonty and Stauffer recommended to plaintiffs on
M&T's behalf that they d~vers~fy the investments held ~n the various trusts Plmnt~ffs agreed to a
plan to hqmdate apprommately 20% of the Tyco stock held ~n the trusts Gonty tndmated m a
letter dated February 1, 2002, that 20% hqmdat~on was "well within the parameters we are
comfortable w~th"
21
As a result of the dAscussmn with M&T, the trustees of the Grandchildren's Trust
ultimately sold 40% of the Tyco stock held ~n that trust during the first half of 2002 No Tyco
stock was sold from the ChAldren's Trusts, however
22
On or about March 6, 2002, acnng on behalf of M&T, Stauffer sent a letter to
Brenner Sr recommending that, in hght of varmus negative market events that had reduced the
value of Tyco stock, the tnvestments tn the Chddren's Trusts should be dtvers~fied Stauffer
recommended that a "hqmdation plan should be in place and earned out m a d~sclpllned and
t~mely manner," stated that "market prices need not dmtate the progress of'the hqmdatmn
plan," and concluded that Tyco stock appeared to "represent a good investment opportumty as
part ora dlversffied portfoho" Stauffer also mdAcated that M&T beheved the contemporaneous
"paine" surrounding Tyco stock was largely unwarranted Thus, Stauffer encouraged Brenner Sr.
to agree to sell some, but not all, of the Tyco stock ~n the trusts Th~s letter was cop~ed to
Brenner Jr, Bushey, and Gonty
23
Brenner Sr beheved firmly m Tyco's fundamental financial soundness and, as a
result, beheved that At was wise to contAnue holding Tyco stock both personally and m the
Chddren's Trusts He therefore continued to resist selhng Tyco stock from the Children's Trusts
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5
24
On Monday, June 3, 2002, Tyco's CEO was arrested and charged with tax evasion.
Tins event had a negative ~mpact on the stock price
25
On Friday, June 7, 2002, Stauffer called plaintiff Bushey in a pamc Stauffer told
Bushey that Gonty was on vacation so he was taking ~t upon Inmself to call her, Brenner Jr, and
Brenner Sr regarding the Tyco s~tuatlon Stauffer told Bushey that M&T was "ehmtnattng its
position in Tyco immediately" and advised plaintiffs to do the same Stauffer breathlessly
described his concerns about Tyco and indicated that he would call Bushey later to set up a time
to meet the following week once Gorlty returned from vacation Stauffer made a s~mllar call to
Brenner Jr
26
On or about Tuesday, June 1 l, 2002, Stauffer telephoned Brenner Sr and asked
him to come by M&T's Carlisle office on Wednesday, June 12, at which time Gonty would be
back from vacatmn Brenner Sr agreed to come to the bank for a brief informational meeting
about the Tyco situation
27
When Brenner Sr arnved at M&T on June 12, 2002, Stauffer and Gorlty were
already on a conference call with a semor M&T representative ~n Buffalo, New York In contrast
to the informational meeting Brenner Sr expected, Gonty and Stauffer's actual purpose in calling
the meeting was to conwnce Brenner Sr to liquidate one-third of the Tyco stock in the Children's
Trusts ~mmedmtely and to qmckly liquidate the remamder ~fthe stock price fell filrther Indeed,
Stauffer and Gonty had already prepared documents for Brenner Sr to sign allowing immediate
liquidation of one-third of the Tyco shares in each of the Chddren's Trusts, and placement ora
"stop loss order" at $9 00 on all remaining Tyco shares in those trusts
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6
28
Gonty and Stauffer were intent upon getting Brenner Sr to agree to their
hquldatlon plan and sign the docui'nents However, Brenner Sr did not want to sell any Tyco
stock, and Gorlty and Stauffer knew the strength of Brenner's belief In Tyco's fundamental
financial soundness Convinced of the correctness of their own desired course of acnon,
however, Gonty and Stauffer dtd not adequately explmn their liquidation plan to Brenner Sr and
took advantage of his reduced capacity to pressure htm tnto signing the documents Ultimately,
under pressure from his co-trustees, Brenner Sr agreed to sell one4hlrd of the Tyco stock held ~n
the Children's Trusts if~t reached $10 50 The documents Gonty and Stauffer had Brenner Sr
s~gn, however, dtd not provide for the disposition Brenner Sr understood he ,,vas agreeing to
Rather, they provided for immediate liquidation of one-third of the Tyco stock ~n the Chddren's
Trusts, and placed a "stop loss order" at $9 00 for the rematnmg two-thirds of the Tyco shares
Brenner Sr did not understand or agree to this plan
29
Neither Brenner Jr nor Bushey was present at the meeting on June 12, 2002
M&T never nottfied e~ther of them of the meeting, and they were both unaware it was taking
place Thus, M&T extracted Brenner Sr's "agreement" to liquidate the only assets tn the
Children's Trusts w~thout anyone present to help him understand M&T's proposal or the
documents M&T told him to sign M&T's actions were in direct contraventton of Gonty's
agreement wtth Bushey and Brenner Jr about substantive meetings, the estabhshed course of
practice for substantive meettngs since summer 1998, and M&T's fiduciary duttes regarding the
Children's Trusts
30
Immediately upon Brenner Sr's departure from M&T, Gonty and Stauffer
executed the,r hqmdatlon plan At 11 33 a m, M&T caused 4,533 shares of Tyco stock in the
Jane Brenner "B" Trust (one-third of the total) to be sold at $10 23 per share At the same ttme,
7
M&T caused 13,866 shares of Tyco stock in the Jane Brenner "C" Trust (one-third of the total) to
be sold at $10 23 per share At 11 36 a m, M&T caused 24,274 shares of Tyco stock ~n the
Blakely Trust (one-third of the total) to be sold at $10 23 per share At 12 05 p m, M&T caused
11,134 shares of Tyco stock in the Grandchildren's Trust (one-third of the total) to be sold at
$10 23 per share M&T also entered "stop loss" orders for all of the remaining Tyco shares in all
of the trusts
31
Upon mformat~on and behef, only after taking the actions described ~n paragraph
30 did M&T belatedly reahze the potential lmphcat~ons ofthmr failure to include Brenner Jr and
Bushey in the decision on the Chddren's Trusts, as well as the fact that Brenner Jr and Bushey
had not g~ven approval as co-trustees of the Grandchddren's Trust Gonty and Stauffer knew
they had to get Brenner Jr and Bushey to "agree" to M&T's Improper actions in order to avmd
potentml disaster
32
Pretending they had not yet acted, Gonty qmckls, called plalntlffBushey shortly
after 12 00 p m on June 12, 2002, and ~nformed her that her father had agreed to sell one-third of
the stock ~n the Children's Trusts at $10 50 and to put a $9 00 "stop loss" order on the remaining
stock Gonty told Bushey that the decision had been made, but that he wanted to make sure he
had Bushey and Brenner Jr's "consent" Bushey was surprised and confused that her father
would ever agree to the course of action M&T was representing he had M&T was desperate to
get her approval, however, so Gonty ~mproperly pressured Bushey untd she "agreed" to the
course of actmn her father had allegedly taken on the Chddren's Trusts
33
Immediately after speaking to Bushcy, Gonty next telephoned Brenner Jr Gonty
told h~m that Brenner Sr had already agreed to the liquidation plan for the Children's Trusts and
that Bushey had agreed to the hqmdatmn plan for the Grandchildren's Trust L~ke Bushey,
8
Brenner Jr was surprised and confused by what M&T was telling him Ho,aever, Gonty
characterized the plan as "a done deal" and pressured Brenner Jr to go along with Ins father's and
s~ster's purported w~shes Brenner Jr ultimately "agreed" under thts improper pressure to sell
one-thtrd of the stock at $10 50 However, he was uncomfortable with the stop loss order and
told Gonty he would get back to M&T on that tssue
34
In a subsequent conversation wtth her brother, Bushey learned that she bad
allegedly agreed to allow M&T's I,qmdatlon plan to be applied not only to the Children's Trusts
over which her father was named co-trustee, but also to the Grandchtldren's Trust over whmh she
was co-trustee In M&T's rush to get approval from Bushey, Gonty had not adequately informed
Bushey that he ~ as seeking her agreement as to the d~sposit,on of assets in the Grandchildren's
Trust as well as the Children's Trusts Bushey never agreed or ~ntended to agree to liquidate the
Tyco shares tn the Grandchildren's Trust
35
In the early afternoon of June 12, 2002, Tyco's stock price fell below $9 00 for a
short per,od of t,me
36
In the early afternoon of June 12, 2002, as a result of the "stop loss orders" entered
by M&T earher that mom,ng, all remmmng Tyco shares were sold out of the various trusts at
$8 75 per share Specffically, M&T caused the sale of 9,067 shares held in the Jane Brenner "B"
Trust, 27,734 shares held tn the Jane Brenner "C" Trust, 48,468 shares held ~n the Blakely Trust,
and 22,266 shares held tn the Grandchildren's Trust
37
After M&T had executed the sale of all Tyco stock from the Cinldren's Trusts and
the Grandchtldren's Trust, Dav,d Gonty sent a letter to Brenner Jr and Bushey, dated June 12,
2002 Gorlty requested Brenner Jr and Bushey sign the letter to confirm the,r alleged
9
authorization of M&T's actions Plaintiffs refilsed to sign
38
Subsequent to the events of June 12, 2002, M&T terminated Stau£fer's
employment
FIRST CLAIM FOR RELIEF
(Against Defendant M&T)
(Breach of Fiduciary DuW)
(Children's Trusts)
39
Plaintiffs restate the allegations tn paragraphs I through 38
40
M&T had an obhgat~on to deal honestly with its co-trustee, Brenner Sr, ~n the
management of the Chddren's Trusts
41
M&T had an obhgatlon to act m the best interests of the benefimarms of the
Chddren's Trusts
42
In light of Brenner Sr's failing health and reduced capacity, and pursuant to the
agreement reached between Gonty and Bushey, M&T had an obligation to take appropriate and
necessary measures to protect the assets and benefimanes of the Children's Trusts, including,
~nter aha, involving Bushey and/or Brenner Jr m any substantive decisions regarding the
Children's Trusts
43
M&T breached its fiduciary duties to the Children's Trusts by cap~tahzlng on its
co-trustee Brenner Sr's reduced physical and mental condition In order to accomphsh its
umlateral plan to liquidate all Tyco stock held by the trusts M&T disposed of the entirety of the
10
assets m the Chddren's Trusts wtthout the m formed consent and agreement of ~ts co-trustee
44
M&T breached its fiduciary duty by fmhng to include e~ther Bushey or Brenner Jr
in the meeting of June 12, 2002, whmh was ~n fact the most ~mportant, most substantive meeting
ever held regarding the Children's Trusts lfe~ther Brenner Jr or Bushey had been present to
explain what M&T wanted to their father, Brenner Sr would not have "agreed" to M&T's
hqmdat~on plan or s~gned M&T's documents
45
M&T's pamcked dec~ston to hqmdate the entirety of the Tyco stock held tn the
Chtldren's Trusts on June 12, 2002, was not ~n the best ~nterests of the beneficiaries, and
therefore a breach of M&T's fiduciary duty to the beneficiaries
46
As a result of M&T's actions, the Chddren's Trusts have been damaged tn the
amount of $764,573
47
Plamttffs are also entttled to putative damages as a result of M&T's conduct, since
M&T acted v,~th intent or reckless indifference
SECOND CLAIM FOR RELIEF
(Against Defendant M&T)
(Breach of F~duciary Duty)
(Grandchildren's Trust)
48
Plaintiffs restate the allegations m paragraphs 1 through 38
49
M&T had an obhgatlon to deal honestly with ~ts co-trustees, Bushey and Brenner
Jr, m the management of the Grandchildren's Trast
11
50
IvI&T had an obligation to act m the best interests of the beneficiaries of the
Grandchildren's Trust
51
M&T breached its fiduciary duties to the Grandchildren's Trust by misleading and
coercing ~ts co-trustees Brenner Jr and Bushey to accede to its umlateral dec,sion to liquidate all
Tyco stock held by the trust M&T disposed of the entirety of the assets in the Grandchildren's
Trust without the informed consent and agreement of its co-trustees
52
M&T's panicked decision to hqmdate the entirety of the Tyco stock held In the
Grandchildren's Trust on June 12, 2002, was not in the best interests of the benefictarles, and
therefore a breach of M&T's fiduciary duty to the beneficiaries
53
As a result of M&T's actmns, the Grandchildren's Trust has been damaged in the
amount of $199,605
54
Plaintiffs are also entitled to putative damages as a result of M&T's conduct, stnee
M&T acted w~th ~ntent or reckless ~nd~fference
THIRD CLAIM FOR RELIEF
(Against Defendants Gority and Stauffer)
(Aiding and Abetting Breach of Fiduciary Duty)
(Children's Trusts)
55
Plaintiffs restate the atlegatmns in paragraphs 1 through 54
56
By their acttons, Gonty and Stauffer aided and abetted M&T's breach of fiduciary
12
duty ~x lth respect to tile Children's Trusts
57
As a result of Gonty and Stauffer's actions, the Children's Trusts have been
damaged in the amount of $764,573
FOURTH CLAIM FOR RELIEF
(Against Defendants Gority and Stauffer)
(Aiding and Abetting Breach of Fiduciary Duty)
(Grandchildren's Trust)
58
Plaintiffs restate the allegations in paragraphs I through 54
59
By their actions, Gonty and Stauffer aided and abetted M&T's breach of fiduciary
duty with respect to the Grandchildren's Trust
60
As a result of Gonty and Stuaffer's actions, the Grandchildren's Trusts have been
damaged in the amount of $199,605
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13
WHEREFORE, plmntfffs Joseph D Brenner, Sr. Joseph D Brenner. Jr, and
Margaret B Bushey. pray forjudgment against defendants Manufacturers and Traders Trust
Company, Dawd C Gonty, and Curt R Stauffer, for compensatory damages against all
defendants m the amount of $964,178 on all clmms, for punmve damages against defendant
Manufacturers and Traders Trust Company on the first and second claims, for interest at the
statutory rate of 6% from June 12, 2002, until paid, aga, nst all defendants on all clmms, and for
such other rehef as the court deems just and equitable
DATED lhls Q~-'/'~ day of August, 2003
SNELBAKER, BRENNEMAN & SPARE, P C
Kelth 0 Brenneman
R~chard C Snelbaker
Attorneys for Plaintiff
TONKON TORP LLP
~¥fi~mm-F Ma.so~, ~, OSB No
Rob~ E R~dler, OSB No 00016
Attorneys for Plmntfffs
163
14
VERIFICATION
I verify that the statements made m the foregoing Complaint are true and
correct based upon personal knowledge, ~nformatlon and/or belief. I understand
that false statements herein are made subject to the penalties of 18 Pa C S Section
4909 relating to unsworn falsification to authormcs
Date
J~sep'l~ D Bl~:l/ner. Sr
VERIFICATION
I verify that the statements made in the foregoing Complaint are true and
correct based upon personal knowledge, ~nformat~on and/or behef I understand
that false statements hereto are made subject to the penalhes of 18 Pa.C S Section
4909 relating to unsworn falsffication to authormes
Date ,/~ a.~, ~,oa3
VERIFICATION
I verify that the statements made m the foregoing Complaint are true and
correct based upon personal knowledge, mf$~matmn and/or behef I understand
that false statements hereto are made subject to the penalt,es of 18 Pa C S Section
4909 relating to unsworn falsfficat~on to authom~es
Date
/ ~largaret B Bushey {/~
pECEIVED
AUG 2 ? 2003
'FONKON rORP LLP
JOSEPH D BRENNER, SR, JOSEPH D
BRENNER, JR, and MARGARET B BUSHEY,
Plaintiffs,
MANUFACTURERS AND TRADERS TRUST
COMPANY, a New York corporation, DAVID C
GORITY, an individual, and CURT R
STAUFFER, an ~ndividual,
Defendants
NOTICE
IN THE COURT OF COMMON PLEAS
OF CUMBERLAND COUNTY,
PENNSYLVANIA
CIVIL ACTION - LAW
No.O '5
NOTICE
,tl; 5
You have been sued tn court If you wish to defend against the claims set forth in the following
pages, you must take acnon within twenty (20) days after this Complaint and Notice are served,
by entering a written appearance personally or by attorney and filing in writing with a court your
defenses or objections to the claims set forth against you You are warned that If you fall to do
so the case may proceed without you and a judgment may be entered against you by the Court
without further notice for any money claimed m the Complmnt or for any other claim or relief
requested by the Plmntlff You may lose money or property or other rights important to you
YOU SHOULD TAKE THIS PAPER TO YOUR LAWYER AT ONCE IF YOU DO NOT
HAVE A LAYWER OR CANNOT AFFORD ONE, GO TO OR TELEPHONE THE OFFICE
SET FORTH BELOW TO FIND OUT WHERE YOU CAN GET LEGAL HELP
Cumberland County Bar Association
32 S Bedford Street
Carlisle, Pennsylvania 17013-3302
(717) 249-3166
SNELBAKER, BRENNEMAN & SPARE, P C
Keith O Brermeman
Richard C Snelbaker
Attorneys for Plainhffs
TONKON TORP L[,.P--~
Wdham F Martson, Jr, OSB ix
Robyn E R~dler, OSB No 000
Attorneys for Plmntlffs
72163
VERIFICATION
I, Joseph D Brenner, Sr, verify that the statements made in the foregoing
ObJections are true and correct I understand that false statements herein are made subject to the
penalties of 18 Pa C S Section 4904 relating to unswom falsification to authorities
VERIFICATION
I, Joseph D Brenner, Jr, verify that the statements made ~n the foregmng
ObJections are true and correct I understand that false statements hereto are made subject to the
penalties of 18 Pa C S Section 4904 relating to unswom falsification to authorities
3~ph 1~ Bre~-~, Jr ~
VERIFICATION
I, Margaret B Bushey, verify that the statements made ~n the foregoing
Objections are true and correct I understand that false statements herein are made subject to the
penalties of 18 Pa C S Section 4904 relating to unswom falsification to authorities
M~l/gar~ Bushey
LAW OFFICES
SNEIBAkEr
BrENNEMAn
& SPare
CERTIFICATE OF SERVICE
I, KEITH O BRENNEMAN, ESQUIRE, hereby certify that I have, on the below date,
caused a true and correct copy of the foregoing ObJections to be served upon the person and in
the manner indicated below
FIRST CLASS MAIL, POSTAGE PREPAID, ADDRESSED AS FOLLOWS
Christopher M Cmconl, Esquire
Stevens & Lee
P O Boxl1670
Hamsburg, PA 17108-1670
SNELBAKER, BRENNEMAN & SPARE, P C
Date November 21, 2003
By
Ke~th O Brenneman, Esqmre
44 W Mmn Street
P O Box318
Mechanlcsburg, PA 17055
(717) 697-8528
Attorneys for Joseph D Brenner, St, Joseph D
Brenner, Jr and Margaret B Bushey