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MALLIS v. BANKERS TRUST CO.

No. 241, Docket 79-7416.

615 F.2d 68 (1980)

Samuel MALLIS and Franklyn Kupfer-man, Plaintiffs-Appellants, v. BANKERS TRUST CO., Defendant-Appellee and Third Party Plaintiff-Appellee, v. Jerome B. KATES, Third Party Defendant, and Jack J. Arnold, Third Party Defendant-Appellee.

United States Court of Appeals, Second Circuit.

Decided January 25, 1980.

Attorney(s) appearing for the Case

Peter M. Collins, New York City (White & Case, Richard G. Greco, New York City, of counsel), for defendant-appellee and third party plaintiff-appellee.

Noel W. Hauser, New York City, for plaintiffs-appellants.

Before FRIENDLY, OAKES and NEWMAN, Circuit Judges.

FRIENDLY, Circuit Judge:

Appellants Samuel Mallis and Franklyn Kupferman brought this action in the District Court for the Southern District of New York to recover losses allegedly suffered as the result of a somewhat unusual securities transaction. In addition to appellee Bankers Trust Company, the original defendants included the Federal Deposit Insurance Corporation and the European American Bank as successor-in-interest to Franklin National Bank. The district...

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