COLONIAL BANK & TRUST CO. v. AMERICAN BANKSHARES

Nos. 77-C-289, 77-C-294.

478 F.Supp. 1186 (1979)

COLONIAL BANK & TRUST COMPANY, an Illinois Banking Corporation, as assignee of William F. Fox, Plaintiff, v. AMERICAN BANKSHARES CORPORATION, a Wisconsin Corporation, et al., Defendants. John D. CAHILL, Plaintiff, v. ERNST & ERNST, Defendant.

United States District Court, E. D. Wisconsin.

October 29, 1979.


Attorney(s) appearing for the Case

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

Matthew J. Flynn and Thomas J. Donnelly, Jr., Quarles & Brady, Milwaukee, Wis., for outside directors.

William H. Alverson, Godfrey & Kahn, Milwaukee, Wis., for Ernst & Ernst.

William J. French, Gibbs, Roper, Loots & Williams, Milwaukee, Wis., for FDIC.

Clifford B. Buelow and Walter S. Davis, Davis, Kuelthau, Vergeront, Stover & Leichtfuss, Milwaukee, Wis., for Benson.


MEMORANDUM AND ORDER

WARREN, District Judge.

Plaintiffs in these two actions have brought suit alleging violations of section 10(b) of the Securities Exchange Act of 1934, 15 U.S.C. § 78j(b), and Rule 10b-5 promulgated thereunder by the Securities and Exchange Commission. Jurisdiction is grounded on 15 U.S.C. § 78aa.

In the complaint in Civil Action 77-C-289, plaintiff alleges that William Fox purchased 5,000 shares of common stock of defendant...

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