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ZAROWITZ v. BANKAMERICA CORP.

No. 88-6049.

866 F.2d 1164 (1989)

Barbara ZAROWITZ, Individually and on behalf of those similarly situated, Plaintiff, and Anthony Tammaro, Inc. Profit Sharing Trust, Plaintiff-Appellee, v. BANKAMERICA CORPORATION, et al., Defendants-Appellees, v. William T. POWERS, Intervenor-Appellant.

United States Court of Appeals, Ninth Circuit.

Decided January 31, 1989.

Attorney(s) appearing for the Case

Julian A. Pollok, Pollok & Overby, Los Angeles, Cal., for intervenor-appellant.

Sherrie R. Savett, Berger & Montague, Philadelphia, Pa., for plaintiff-appellee.

Jerome H. Craig and Dennis M. Perluss, Hufstedler, Miller, Kaus & Beardsley, Los Angeles, Cal., Melvin Goldman, Morrison & Foerster, San Francisco, Cal., for defendants-appellees.

Before GOODWIN, Chief Judge, SNEED and HUG, Circuit Judges.

PER CURIAM:

William T. Powers appeals a judgment approving the settlement of shareholder derivative actions against the officers and directors of BankAmerica Corporation (BAC). Powers, a BAC shareholder and an employee, asserts that the district court abused its discretion. We affirm.

Bank of America, a subsidiary of BAC, reported substantial losses in 1985 and 1986. These losses resulted from the Bank's lending...

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