In re SUNRISE SECURITIES LITIGATION.
George POPKIN and Anne Popkin
v.
Robert C. JACOBY, George Greenberg, Nathaniel J. Jacobs, Alan B. Keiser, Robert E. Logsdon, Lake Lytal, Frank Shaw, Robert T. Siemon, Bernard Simonson, William C. Frame, Sheila Evelyn, M. Kalman Gitomer, Michael D. Foxman, Robert A. Calsin, Joseph C. Taber, Deloitte Haskins & Sells, and Blank Rome Comisky & McCauley,
George and Anne Popkin, Appellants.
United States Court of Appeals, Third Circuit.https://leagle.com/images/logo.png
Argued May 17, 1990.
Decided October 17, 1990.
Attorney(s) appearing for the Case
Arthur M. Kaplan (argued), Allen D. Black, Fine, Kaplan & Black, Philadelphia, Pa., for appellants.
Amy B. Ginensky (argued), Robert C. Heim, Jan P. Levine, Dechert, Price & Rhoads, for appellees Alan B. Keiser, Nathaniel B. Jacobs, Robert E. Logsdon, Robert T. Siemon, George Greenberg and Lake Lytal.
John G. Harkins, Jr. (argued), Jeffrey C. Hayes, Pepper, Hamilton & Scheetz, Philadelphia, Pa., for appellees, Blank, Rome, Comisky & McCauley.
Rudolph Garcia, David R. Moffitt, Saul, Ewing, Remick & Saul, Philadelphia, Pa., for appellee Bernard Simonson.
S. Michael Levin, Edwards & Angell, Providence, R.I., for appellee M. Kalman Gitomer.
Perry S. Bechtle, LaBrum & Doak, Philadelphia, Pa., for appellee Michael D. Foxman.
Bruce A. Zimet, Bruce A. Zimet, P.A., Fort Lauderdale, Fla., for appellee William C. Frame.
James M. Miller, Akerman, Senterfitt & Eidson, Miami, Fla., for appellee Joseph C. Taber.
Alan J. Davis, Robert McL. Boote, Wolf, Block, Schorr & Solis-Cohen, Philadelphia, Pa., for appellee Deloitte, Haskins & Sells.
Stephen H. Glickman, Zuckerman, Spaeder, Goldstein, Taylor & Kolker, Washington, D.C., for appellee Robert C. Jacoby.
Donald T. Bucklin, Scott T. Kragie, Margaret A. Jennings, Squire, Sanders & Dempsey, Washington, D.C., for amicus curiae The Federal Deposit Ins. Corp., etc. on behalf of all appellees.
Before MANSMANN and SCIRICA, Circuit Judges and STANDISH, District Judge.
United States Court of Appeals, Third Circuit.
OPINION OF THE COURT
SCIRICA, Circuit Judge.
In this appeal, we consider the legal limitations on the rights of depositors to assert individual RICO claims against the directors, officers, auditors, and outside counsel of an insolvent savings and loan association, rather than to recover their losses through the receiver's actions on their behalf, or by way of a derivative suit. The plaintiffs in this class action, former depositors of Sunrise Savings &...
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