In Dansko Holdings, Inc. v. Benefit Trust Co., a shoe company hired a trustee for its employees’ stock ownership plan. Afterward, the trustee hinted that it would help the shoemaker refinance its debt but then backed out of that deal. The shoemaker sued, and the trustee counterclaimed for the cost of defending the suit. On summary judgment, the District Court rejected both parties’ claims. The Third Circuit reversed, ruling that the District Court erred in rejecting the shoe company’s contract, estoppel, and fraud claims.
