GROVE v. FIRST NATIONAL BANK OF HERMINIE

No. 73-1172.

489 F.2d 512 (1973)

Robert B. GROVE, Appellee, v. The FIRST NATIONAL BANK OF HERMINIE, Appellant.

United States Court of Appeals, Third Circuit.

Decided December 12, 1973.

As Amended January 21, 1974.


Attorney(s) appearing for the Case

Harry J. Gruener, David R. Brown, Litman, Litman, Harris & Specter, P. A., Pittsburgh, Pa., for appellee.

Ralph H. German, Thomas E. Lippard, Houston, Cooper, Speer & German, Pittsburgh, Pa., for appellant.

Before FORMAN, ALDISERT and GARTH, Circuit Judges.


OPINION OF THE COURT

PER CURIAM:

Plaintiff-appellee Grove sought damages alleging violations of Federal Reserve margin requirements (Regulation U: 12 CFR § 221) promulgated pursuant to the Securities Exchange Act of 1934, 15 U.S.C.A. § 78g. Jurisdiction is asserted under 15 U.S.C.A. § 78aa.

I.

In a non-jury proceeding, the trial court found that the defendant-appellant First National Bank of Herminie, (hereinafter "Bank"...

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