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STATE v. CHASE SECURITIES, INC.

No. 20863.

424 S.E.2d 591 (1992)

188 W.Va. 356

STATE of West Virginia, Plaintiff Below, Appellee, v. CHASE SECURITIES, INC., Defendant and Third-Party Plaintiff Below, Appellant, v. The WEST VIRGINIA STATE BOARD OF INVESTMENTS; Arch A. Moore, Jr.; Glen B. Gainer, Jr.; and A. James Manchin, Third-Party Defendants Below, Appellees.

Supreme Court of Appeals of West Virginia.

Decided November 25, 1992.

Attorney(s) appearing for the Case

Mary L. Wolff, Wolff Ardis, Memphis, Tenn., Rudolph L. DiTrapano, Rebecca A. Baitty, Debra L. Hamilton, DiTrapano & Jackson, Silas B. Taylor, Sr. Deputy Atty. Gen., Charleston, for appellee State of W.Va.

Joseph R. Goodwin, Richard E. Rowe, Goodwin & Goodwin, Charleston, for appellant.

John R. Hoblitzell, John Andrew Smith, Steven L. Thomas, Kay, Casto, Chaney, Love & Wise, Charleston, for appellee Arch A. Moore, Jr.

David P. Cleek, Kenneth E. Knopf, Stephen M. Fowler, Cleek, Pullin & Bibb, Charleston, for appellee Glen B. Gainer, Jr.

Richard L. Earles, Stephen D. Annand, Shuman, Annand & Poe, Charleston, for appellee A. James Manchin.

MILLER, Justice:

This appeal involves a question of immunity for state executive officials which arose in a civil action by the State of West Virginia against Chase Securities, Inc., (Chase) to recover damages for losses sustained by the Consolidated Fund (Fund)1 in the spring of 1987. Chase appeals from a September 17, 1991 order of the Circuit Court of Kanawha County which dismissed Chase's third-party complaint against Arch A. Moore...

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