FEDERAL HOME LOAN BANK BOARD, a sue and be sued agency of the United States, Federal Savings and Loan Insurance Corporation, a sue and be sued Federal corporation, and agency of the United States, Appellants,
v.
Sidney ELLIOTT, Winnie Bucklin, Mabel Fergus and John (Beans) Reardon, individually and as the Shareholders' Protective Committee of Long Beach Federal Savings and Loan Association, suing on behalf of all of the savings shareholders of said Association as a class, and Long Beach Federal Savings and Loan Association, a Federal mutual savings and loan association, Appellees.
FEDERAL HOME LOAN BANK BOARD, a sue and be sued agency of the United States, Federal Savings and Loan Insurance Corporation, a sue and be sued Federal corporation, Equitable Savings and Loan Association, a California corporation, Long Beach Federal Savings and Loan Association, a Federal mutual association, John Does 1 through 70,000, Appellants,
v.
Sidney ELLIOTT, Winnie Bucklin, Mabel Fergus and John (Beans) Reardon, individually and as the Shareholders' Protective Committee of Long Beach Federal Savings and Loan Association, suing on behalf of all of the savings shareholders of said Association as a class, Appellees.
FEDERAL HOME LOAN BANK BOARD, a sue and be sued agency of the United States, Federal Savings and Loan Insurance Corporation, a sue and be sued Federal corporation and agency of the United States, Long Beach Federal Savings and Loan Association, a Federal mutual association; Joseph Fields, a citizen of New York; Marion Fields, a citizen of New York; Ralph Fields, a citizen of New York; John Does 1 through 70,000, Appellants,
v.
EQUITABLE SAVINGS AND LOAN ASSOCIATION, a California corporation, Appellee.
United States Court of Appeals Ninth Circuit.https://leagle.com/images/logo.png
August 18, 1967.
Rehearing Denied January 11, 1968.
Attorney(s) appearing for the Case
John W. Douglas, Asst. Atty. Gen., J. William Doolittle, Acting Asst. Atty. Gen., Barefoot Sanders, Asst. Atty. Gen., Carl Eardley, Sherman L. Cohn, Florence Wagman Roisman, Morton Hollander, Attys., Dept. of Justice, Civil Division, Washington, D. C., Manuel L. Real, John K. Van de Kamp, U. S. Attys., Los Angeles, Cal., Kenneth E. Scott, Gen. Counsel, Max Wilfand, Asst. Gen. Counsel, Federal Home Loan Bank Bd., Washington, D. C., for appellants, Federal Home Loan Bank Bd., and Federal Savings & Loan Ins. Corp.
Thomas C. Lynch, Atty. Gen., of State of Cal., Arthur C. DeGoede, David W. Halpin, Deputy Attys. Gen., Los Angeles, Cal., for appellant, Savings & Loan Comr. of Cal.
Charles K. Chapman, Long Beach, Cal., for appellee, Long Beach Federal Savings & Loan Assn.
George W. Trammell, Long Beach, Cal., for appellee, Shareholders' Protective Comm.
Moore & Lindelof, Los Angeles, Cal., Louis C. Blau, Paul Gutman, Stanley Belkin, Beverly Hills, Cal., for appellee, Equitable Savings & Loan Assn.
Pacht, Ross, Warne, Bernhard & Sears, Harvey M. Grossman, Los Angeles, Cal., for intervenor, N. Joseph Ross, Fitzpatrick & Wiley, Los Angeles, Cal., of counsel.
Before BARNES, HAMLEY and DUNIWAY, Circuit Judges.
United States Court of Appeals Ninth Circuit.
HAMLEY, Circuit Judge.
Three appeals have been consolidated for disposition under the above caption. They bring into question summary judgments, entered in three cases involving the merger of Long Beach Federal Savings and Loan Association (Long Beach), and Equitable Savings and Loan Association (Equitable). The effect of each judgment is to declare invalid the formula set forth in the merger agreement governing the distribution of Equitable's guarantee stock to Long...
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