No. 81-7129.

674 F.2d 862 (1982)

William L. GUNTER and Camille S. Gunter, Plaintiffs-Appellants, v. Theodore M. HUTCHESON, et al., Defendants-Appellees.

United States Court of Appeals, Eleventh Circuit.

April 30, 1982.

Attorney(s) appearing for the Case

Gambrell, Russell & Forbes, Harold L. Russell, Thomas W. Rhodes, Jane K. Wilcox, Atlanta, Ga., for plaintiffs-appellants.

Thomas C. Harney, Kilpatrick & Cody, Atlanta, Ga., for defendants-appellees Vann, Cobble, Chepul, Rankin and Holliday.

John A. Chandler, Sutherland, Asbill & Brennan, J. D. Fleming, Jr., Atlanta, Ga., Frank L. Skillern, Jr., Albert J. Tumpson, Federal Deposit Ins. Corp., Washington, D. C., for defendant Federal Deposit Ins. Corp.

Before MORGAN, KRAVITCH and HENDERSON, Circuit Judges.

KRAVITCH, Circuit Judge:

Appellants William L. and Camille S. Gunter appeal from the district court's grant of summary judgment1 for the Federal Deposit Insurance Corporation [FDIC] in this action by the Gunters to rescind a $3 million note due to alleged securities law violations and fraud. The Gunters assert that the trial court erred in holding that the FDIC was immune from fraud claims under a rule of federal common law. For the reasons...


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