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DAVIS v. FENDLER

No. 79-3691.

650 F.2d 1154 (1981)

Richard DAVIS, et al., Plaintiffs-Appellees, v. Robert H. FENDLER, Defendant-Appellant.

United States Court of Appeals, Ninth Circuit.

Decided July 17, 1981.

Attorney(s) appearing for the Case

E. Reid Southern, Southern & Mulhall, Phoenix, Ariz., for defendant-appellant.

Robert Schachter, New York City, argued for plaintiffs-appellees; Patricia I. Avery, Kass, Goodkind, Wechsler & Labaton, New York City, John E. Lundin, Jack S. Emery, Wentworth & Lundin, Phoenix, Ariz., on brief.

Before KILKENNY and SNEED, Circuit Judges, and HANSON, District Judge.

KILKENNY, Circuit Judge:

This is an appeal from a default judgment which was entered against appellant for the sum of $37,929,368.00.

BACKGROUND

This class action was filed by appellees on December 5, 1975, on behalf of all persons who had investments in Lincoln Thrift Association and U.S. Thrift Association as of November 28, 1975. The complaint charged the appellant and others with federal securities fraud violations and pendent state claims. Appellant...

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