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IN RE FRANKLIN NATIONAL BANK SECURITIES LITIGATION

No. 196.

393 F.Supp. 1093 (1975)

In re FRANKLIN NATIONAL BANK SECURITIES LITIGATION.

Judicial Panel on Multidistrict Litigation.

April 30, 1975.

OPINION AND ORDER

PER CURIAM.

I. Background

This litigation arises from the recent failure of the Franklin National Bank (FNB) and consists of ten actions in two federal districts — six in the Eastern District of New York and four in the Southern District of New York. These actions include an injunctive action by the SEC, five alleged class actions for damages on behalf of purchasers of securities issued by the Franklin New York Corporation...

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