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GAUBERT v. FEDERAL HOME LOAN BANK BD.

No. 88-5077.

863 F.2d 59 (1988)

Thomas M. GAUBERT, et al., Appellants, v. FEDERAL HOME LOAN BANK BOARD, et al., Appellees.

United States Court of Appeals, District of Columbia Circuit.

Decided December 9, 1988.

Attorney(s) appearing for the Case

Abbe David Lowell, with whom Sean Connelly and Elizabeth C. Brooks, Washington, D.C., were on the brief, for appellants.

Kirk K. Van Tine, with whom Perry O. Barber, Jr., Timothy S. Durst, and Jordan Luke, Gen. Counsel, Jack D. Smith, Deputy Gen. Counsel, Dorothy L. Nichols, Senior Associate Gen. Counsel, and Colleen B. Bombardier, Asst. Gen. Counsel, Federal Home Loan Bank Board, Washington, D.C., were on the brief, for appellees.

Before WALD, Chief Judge, and STARR and SENTELLE, Circuit Judges.

Opinion for the court filed by Chief Judge WALD.

WALD, Chief Judge:

Appellant Thomas M. Gaubert brought this derivative action on behalf of Independent American Savings Association ("IASA"), a federally-insured savings and loan association of which he is the majority shareholder, against the Federal Home Loan Bank Board ("FHLBB") and the Federal Savings and Loan Insurance Corporation ("FSLIC"). Gaubert alleges that...

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