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SMITH v. MULVANEY

No. 86-6076.

827 F.2d 558 (1987)

Helen SMITH, Plaintiff-Appellant, v. James F. MULVANEY, William B. Conneley, Harold S. Jurgensen, Floyd A. Blower, William F. Croddy, Douglas R. Giddings, James K. Guthrie, Ernest W. Hahn, Clement L. Hirsch, Arthur H. Kaplan, C. Hugh Friedman, and Hollis Roberts, Defendants-Appellees.

United States Court of Appeals, Ninth Circuit.

Decided September 4, 1987.

Attorney(s) appearing for the Case

Kenneth Poovey and Joel H. Mack, San Diego, Cal., for plaintiff-appellant.

Mark W. Hansen and Lann G. McIntyre, San Diego, Cal., Thomas J. Ready (argued) and Jeffrey I. Ehrlich, Los Angeles, Cal., for defendants-appellees.

Before NELSON, BEEZER, and LEAVY, Circuit Judges.

LEAVY, District Judge:

Nature of Appeal

Helen Smith brought this action for contribution against the former directors of the United States National Bank of San Diego (Bank) under Section 10(b) of the Securities and Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. The trial court found that a right of contribution existed under Section 10(b) and Rule 10b-5 and that contribution should be apportioned based on the parties' relative culpability...

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