HAFT v. EASTLAND FINANCIAL CORP.

Civ. A. No. 90-0302P.

755 F.Supp. 1123 (1991)

Marshall HAFT, Plaintiff, v. EASTLAND FINANCIAL CORP., Herbert L. Miller and Nicolas F. Vrabel, Defendants.

United States District Court, D. Rhode Island.

January 18, 1991.


Attorney(s) appearing for the Case

Amedeo C. Merolla, Providence, R.I., Jules Brody, Melissa R. Emert and Mark Levine of Stull, Stull & Brody, New York City, for plaintiff.

William R. Grimm, Providence, R.I., Douglas M. Kraus, Marco E. Schnabl and Derek J.T. Adler of Skadden, Arps, Slate, Meagher & Flom, New York City, for defendants.


MEMORANDUM AND ORDER

PETTINE, Senior District Judge.

This case is representative of a number of cases that have recently been brought against financial institutions in the wake of the downturn in this region's economy. The story is a familiar one in securities litigation. DiLeo v. Ernst & Young, 901 F.2d 624, 617 (7th Cir.), cert. denied, ___ U.S. ___, 111 S.Ct. 347, 112 L.Ed.2d 312 (1990). "At one time...

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