TRANSAMERICA FIN. CORP. v. SUPERIOR COURT

No. 1 CA-SA 018.

155 Ariz. 327 (1987)

746 P.2d 497

TRANSAMERICA FINANCIAL CORPORATION, a Delaware corporation; Pacific Finance Loans, a California corporation; Transamerica Financial Services, Inc., an Arizona corporation, Petitioners, v. SUPERIOR COURT of the State of Arizona, IN AND FOR the COUNTY OF MARICOPA, and the Honorable Frank T. Galati, a Judge thereof, Respondent Judge, and Olivia M. RASCON; Jorge G. and Antonia G. Medina, husband and wife, individually and on behalf of all others similarly situated, Real Parties in Interest.

Court of Appeals of Arizona, Division 1, Department D.

Review Granted January 5, 1988.


Attorney(s) appearing for the Case

Streich, Lang, Weeks & Cardon by James K. LeValley, William S. Hawgood II, Charles W. Jirauch, and Randall S. Theisen, Phoenix, for petitioners.

Southern Arizona Legal Aid, Inc. by William E. Morris and Charles R. Pyle, Tucson, and Community Legal Services by Noreen Sharp and John R. Dacey, Phoenix, and Armand Salese, Tucson, and Meyer, Hendricks, Victor, Osborn & Maledon, P.A. by William Maledon and Colin Campbell, Phoenix, for real parties in interest.

Robert K. Corbin, Atty. Gen. by Patrick M. Murphy, Chief Counsel, Financial Fraud Div. and W. Mark Sendrow, Asst. Chief Counsel, Phoenix, amicus curiae counsel.


OPINION

HAIRE, Judge.

This special action presents an issue of first impression concerning the existence of a private right of action under the Arizona Consumer Loan Act, A.R.S. § 6-601 et. seq. It is a class action suit that involves an estimated 2600 class members. In addition, there are at least four other actions pending in the Arizona state and federal courts involving this same issue.1 Each of the class action...

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