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GOLDBERG v. HOUSEHOLD BANK, F.S.B.

No. 89-1398.

890 F.2d 965 (1989)

Marc S. GOLDBERG, Plaintiff-Appellant, v. HOUSEHOLD BANK, F.S.B., and Eugene J. Culbertson, Defendants-Appellees.

United States Court of Appeals, Seventh Circuit.

Decided December 7, 1989.

Attorney(s) appearing for the Case

Elwood S. Simon (argued), Schlussel, Lifton, Simon, Rands, Galvin & Jackier, Southfield, Mich., Bruce E. Gerstein, Garwin, Bronzaft, Gerstein & Fisher, New York City, Eugene A. Spector, Philadelphia, Pa., Gregory A. Friedman, Friedman & Holtz, Chicago, Ill., for plaintiff-appellant.

Steven P. Handler (argued), William P. Schuman, Susan E. Cox, Steven S. Scholes, McDermott, Will & Emery, Chicago, Ill., James C. Murray, Jr., Patrick J. Lamb, Daniel A. Kaufman, Katten, Muchin & Zavis, Chicago, Ill., for defendants-appellees.

Before WOOD, Jr., COFFEY, and EASTERBROOK, Circuit Judges.

EASTERBROOK, Circuit Judge.

Marc S. Goldberg bought 200 shares of stock in Freedom Federal Savings Bank on August 10, 1987, at the market price of $25.50. Freedom Federal had announced an upbeat quarterly accounting showing its pre-tax earnings at $8.65 million, or $1.45 per share after taxes, for the first six months of the year. Household Bank, f.s.b., had indicated an interest in acquiring Freedom Federal, which replied that it was intrigued. Speculation about...

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