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HAMBLETT v. BD. OF SAV. AND LOAN ASSOCIATIONS, ETC.

No. DC 76-97-S.

472 F.Supp. 158 (1979)

Audie HAMBLETT, Paulette W. Baddley, Thomas Burse, Robert J. Swanton, Richard C. Watkins, Walter Huffman, on Behalf of themselves and a class of all other persons similarly situated, Plaintiffs, v. The BOARD OF SAVINGS AND LOAN ASSOCIATIONS OF the STATE OF MISSISSIPPI, Brad Dye, Individually and as a Member of the Board, Evelyn Gandy, Individually and as a Member of the Board, A. F. Summer, Individually and as a Member of the Board, W. D. Coleman, Individually and as a Member of the Board, Hamp King, Individually and as a Member of the Board, Heber Ladner, Individually and as Member of the Board, Walter Bullock, Individually and as an Officer of the Board, Bankers Trust Company, Bankers Trust Savings and Loan Association, American Savings and Insurance Company, Charles Carter, Individually and as the Representative of a class consisting of all Officers, Directors and Stockholders of Bankers Trust Company, C. D. Shields, Individually and as Representative of a class consisting of all Officers and Directors of the Bankers Trust Savings and Loan Association, and Chester Simms, Individually and as the Representative of a class consisting of all Officers, Directors and Stockholders of the American Savings and Insurance Company, Defendants.

United States District Court, N. D. Mississippi, Delta Division.

February 28, 1979.

Attorney(s) appearing for the Case

Mayo L. Coiner, Memphis, Tenn., for plaintiffs.

John M. Grower, Brunini, Grantham, Grower & Hewes, Jackson, Miss., for Bankers Trust Sav. & Loan Assn.

John H. Price, Jr., Thomas, Price, Alston, Jones & Davis, Jackson, Miss., for Hamp King.

Richard B. Wilson, Jr., Wise, Carter, Child, Steen & Caraway, Jackson, Miss., for American Sav. Ins. Co. and Chester Simms.

W. D. Coleman, Deputy Atty. Gen., Jackson, Miss., for State Bd. of Sav. & Loan Associations.

C. D. Shields, Jones, Shields & Woodall, Meridian, Miss., pro se.

Charles Carter, Jackson, Miss., pro se.

MEMORANDUM OF DECISION

ORMA R. SMITH, District Judge.

Plaintiffs filed this class action on September 8, 1976. At that time, each plaintiff and each member of the proposed class was a depositor or investor in the Bankers Trust Savings and Loan Association (hereafter "defendant Association").

The class which plaintiffs seek to represent, consists of approximately 60,000 persons, who are said to hold deposits or investments in defendant Association...

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