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SHIELDS v. CITYTRUST BANCORP, INC.

No. 802, Docket 93-7738.

25 F.3d 1124 (1994)

Sarah B. SHIELDS, Individually and as representative of all others similarly situated, Plaintiff-Appellant, v. CITYTRUST BANCORP, INC., George F. Taylor and Irwin Engelman, Defendants-Appellees.

United States Court of Appeals, Second Circuit.

Decided June 2, 1994.

Attorney(s) appearing for the Case

Mark C. Rifkin, Haverford, PA (Greenfield & Rifkin, Haverford, PA, Goodkind Labaton Rudoff & Sucharow, New York City, Gordon & Hiller, Bridgeport, CT, of counsel) for plaintiff-appellant.

Philip L. Graham, Jr., New York City (Theodore W. Rosen, Sullivan & Cromwell, New York City, of counsel) for defendants-appellees.

Before: NEWMAN, Chief Judge, WINTER and JACOBS, Circuit Judges.

JACOBS, Circuit Judge:

As the aggrieved holder of somewhat less than one share of stock in Citytrust Bancorp, Inc. ("Citytrust"), Sarah B. Shields brought this class action claiming that Citytrust and two of its senior executives concealed and misrepresented Citytrust's financial condition — in particular, facts concerning its loan portfolio and loan loss reserves — in violation of Section 10(b) of the Securities Exchange Act of 1934 (the "1934 Act"...

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