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IN RE FOUR SEASONS SECURITIES LAWS LITIGATION

No. 73-1579.

493 F.2d 1288 (1974)

In re FOUR SEASONS SECURITIES LAWS LITIGATION. ARTHUR ANDERSEN & CO., Appellant, v. BANK OF AMERICA, Trustee of Transport Indemnity Company and Transport Underwriters Association Employee Profit Sharing and Retirement Plan PS-13901, Appellee.

United States Court of Appeals, Tenth Circuit.

Decided February 20, 1974.

Attorney(s) appearing for the Case

William G. Paul and Harry A. Woods, Jr., of Crowe, Dunlevy, Thweatt, Swinford, Johnson & Burdick, Oklahoma City, Okl. (Charles W. Boand and George W. Thompson of Wilson & McIlvaine, Chicago, Ill., of counsel, on the brief), for appellant.

Clarence S. Hunt of Ball, Hunt, Hart, Brown & Baerwitz, Long Beach, Cal., for appellee.

Before BREITENSTEIN, McWILLIAMS and DOYLE, Circuit Judges.

WILLIAM E. DOYLE, Circuit Judge.

The sole question presented in the above appeal is whether the District Court correctly ruled that the Bank of America, appellee here, had effectively opted out as a member of the plaintiff class in a class action brought pursuant to Rule 23(b)(3) of the Federal Rules of Civil Procedure. The trial court in a memorandum and order held that the Bank effectively elected to remove itself from the class and that it was not entitled to share...

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