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COLONIAL BANK & TRUST CO. v. AMERICAN BANKSHARES CORP.

No. 77-C-290.

442 F.Supp. 234 (1977)

COLONIAL BANK & TRUST COMPANY, an Illinois Banking Corporation, Plaintiff, v. AMERICAN BANKSHARES CORPORATION, a Wisconsin Corporation, the Federal Deposit Insurance Corporation, as Receiver for American City Bank & Trust Company, N.A., a National Banking Corporation, Harold L. Erickson, Walter F. Benz, William George Bruce, III, Gerald S. Colburn, Albert M. Deshur, Bernard D. Heifetz, Edward A. Korpady, Henry S. Lauterbach, Nicholas J. Lesselyoung, Harold F. Lichtsinn, W. Stanley Pearce, Clement J. Schwingle, Richard D. Wright, Ernst & Ernst, a partnership, R. Donald Hevey, and Edward Lompa, Defendants.

United States District Court, E. D. Wisconsin.

November 16, 1977.

Attorney(s) appearing for the Case

James S. Gordon, Chicago, Ill., Reuben W. Peterson, Jr., Borgelt, Powell, Peterson & Frauen, Milwaukee, Wis., for plaintiff.

Matthew J. Flynn, Quarles & Brady, Clifford Buelow, Davis, Kuelthau, Vergeront, Stover & Leichtfuss, S.C., William H. Alverson, Godfrey & Kahn, William J. French, Gibbs, Roper, Loots & Williams, Milwaukee, for defendants.

Harold L. Erickson, pro se.

MEMORANDUM AND ORDER

WARREN, District Judge.

The defendants in this action have moved to dismiss on the basis that the action is barred by the statute of limitations. Since this action is brought pursuant to § 10(b) of the Securities and Exchange Act of 1934, 15 U.S.C. § 78j(b), and Rule 10b-5 promulgated thereunder by the Securities and Exchange Commission, the Court is required to rule on the question of which state statute of limitations is...

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