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F.D.I.C. v. O'MELVENY & MEYERS

No. 90-55769.

969 F.2d 744 (1992)

FEDERAL DEPOSIT INSURANCE CORPORATION, as Receiver; American Diversified Savings Bank; ADC Financial Corp.; American Diversified Wells Park III, et al., Plaintiffs-Appellants, v. O'MELVENY & MEYERS, Defendant-Appellee.

United States Court of Appeals, Ninth Circuit.

Decided June 29, 1992.

Attorney(s) appearing for the Case

Theodore A. Russell, Pettit & Martin, San Francisco, Cal., for plaintiffs-appellants.

Gregory R. Smith, Irell & Manella, Los Angeles, Cal., for defendant-appellee.

Before: POOLE, KOZINSKI, and LEAVY, Circuit Judges.

POOLE, Circuit Judge:

The Federal Deposit Insurance Corporation ("FDIC"), as receiver for the failed savings and loan association American Diversified Savings Bank ("ADSB"), sued the law firm of O'Melveny & Meyers ("O'Melveny" or "the Firm") claiming professional negligence in connection with its legal advice and services to ADSB. After reviewing de novo the district court's grant of O'Melveny's summary judgment...

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