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NASSER v. FEDERAL HOME LOAN BANK BD.

No. 83-7064.

723 F.2d 1437 (1984)

Albert E. NASSER, et al., Petitioners, v. FEDERAL HOME LOAN BANK BOARD, etc., Respondent.

United States Court of Appeals, Ninth Circuit.

Decided January 20, 1984.

Attorney(s) appearing for the Case

Albert E. Nasser, Irvine, Cal., for petitioners.

Peter R. Taft, Munger, Tolles & Rickershauser, Los Angeles, Cal., for respondent.

Before SKOPIL, FERGUSON and CANBY, Circuit Judges.

FERGUSON, Circuit Judge:

Plaintiffs, formerly 0.11% minority shareholders of Household Federal Savings and Loan Association (HFS & LA), bring this appeal to set aside two resolutions of the Federal Home Loan Bank Board (Bank Board) which approved a reorganization of HFS & LA. The several-step reorganization involved the transfer of ownership to a newly formed corporation, HFC Corp., and a merger with a specially chartered interim, or "phantom," savings and...

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