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JACKSON v. FEDERAL DEPOSIT INS. CORP.

No. CA3-85-0395-D.

654 F.Supp. 1035 (1987)

Gene M. JACKSON, David Cooper, and J.R. Jones, Plaintiffs, v. FEDERAL DEPOSIT INSURANCE CORPORATION, in its capacity as receiver of the Energy Bank, N.A., Defendant. FEDERAL DEPOSIT INSURANCE CORPORATION, in its Corporate Capacity, Intervenor, v. Gene M. JACKSON, David Cooper, and J.R. Jones, Defendants in Intervention.

United States District Court, N.D. Texas, Dallas Division.

February 18, 1987.

Attorney(s) appearing for the Case

Lawrence G. Newman of Law Firm of Lawrence G. Newman, Dallas, Tex., for plaintiffs/defendants in intervention.

William M. Parrish, C. Steven Bradford of Jenkins & Gilchrist, Dallas, Tex., for defendant/intervenor.

MEMORANDUM OPINION AND ORDER

FITZWATER, District Judge.

The issue presented is whether there is an implied right of action for a violation of § 7 of the Securities and Exchange Act of 1934, 15 U.S.C. § 78g, and Regulation U of the Federal Reserve Board, 12 C.F.R. § 221.1 et seq. (1984). The court must decide whether the Supreme Court's decision in Cort v. Ash, 422 U.S. 66, 95 S.Ct. 2080, 45 L.Ed...

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