SMITH v. NEWPORT NATIONAL BANK

Civ. A. No. 4522.

326 F.Supp. 874 (1971)

Jack SMITH et al., Plaintiffs, v. The NEWPORT NATIONAL BANK et al., Defendants.

United States District Court, D. Rhode Island.

May 4, 1971.


Attorney(s) appearing for the Case

Hayden Covington, Barrington, R. I., Zalman Newman, Newport, R. I., Samuel Weintraub, Providence, R. I., for plaintiffs.

Abraham Belilove, Samuel Kolodney, of Arcaro, Belilove & Kolodney, Providence, R. I., for certain intervening plaintiffs.

Peter J. McGinn, John J. Partridge, of Tillinghast, Collins & Graham, Providence, R. I., for Old Colony Cooperative Bank.

Francis J. Boyle, Jeremiah C. Lynch, Laurent L. Rousseau, of Moore, Virgadamo, Boyle & Lynch, Newport, R. I., for The Newport National Bank.

Ambrose W. Carroll, Joseph A. Kelly, Providence, R. I., for James L. Murphy and Irma DeCotis, executors under the will of Cornelius C. Moore.

Matthew J. Faerber, Newport, R. I., for defendant intervenor.

Leonard DeCof, Michael A. Silverstein, Providence, R. I., for Samuel Z. Bazarsky (Director—Newport National Bank).

Joseph J. Nicholson, Newport, R. I., for William Perry (Newport National Bank).

Edward B. Corcoran, Newport, R. I., for W. Harry Groff (Newport National Bank).


OPINION

DAY, Chief Judge.

This is a class action instituted by the plaintiffs Jack Smith and Patricia Smith, his wife, and Frederick S. Dannin, individually, and in his capacity as Administrator of the Estate of Harry Dannin, on their own behalf and on behalf of all other stockholders of the defendant, The Newport National Bank, who are similarly situated. The other defendants are Old Colony Cooperative Bank, sixteen individuals, all of whom are directors...

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