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JACKVONY v. RIHT FINANCIAL CORP.

Nos. 88-1446, 88-1600.

873 F.2d 411 (1989)

Louis V. JACKVONY, Jr., Plaintiff, Appellant, v. RIHT FINANCIAL CORPORATION, etc., et al., Defendants, Appellees. John R. CIOCI, et al., Plaintiffs, Appellees, v. RIHT FINANCIAL CORPORATION, etc., et al., Defendants, Appellants.

United States Court of Appeals, First Circuit.

Decided March 30, 1989.

Attorney(s) appearing for the Case

John R. Fornaciari, P.C., with whom Robert M. Disch and Steele & Fornaciari, Washington, D.C., were on brief, for plaintiff, appellant.

Paul B. Galvani with whom Harvey J. Wolkoff and Ropes & Gray, Boston, Mass., were on brief, for defendants, appellees.

Before COFFIN, BREYER and TORRUELLA, Circuit Judges.

BREYER, Circuit Judge.

In September 1982 the Rhode Island Hospital Trust Bank bought the Columbus National Bank by purchasing its shares. It agreed to give the Columbus shareholders their choice of $25 cash or $25 worth of Hospital Trust stock for each Columbus share (five Hospital Trust shares for six Columbus shares). In November 1983 the Bank of Boston entered into an agreement to acquire Hospital Trust; the final acquisition price was $73 per share. The appellant...

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