IN RE GLENFED, INC. SECURITIES LITIGATION

No. 92-55419.

42 F.3d 1541 (1994)

In re GLENFED, INC. SECURITIES LITIGATION. John Paul DECKER, Arnold Cohen, Gary Haskins, Larry Schwartz, Gary F. Young, Elbridge Ruhl Graef, Trustee u/w of Charlotte R. Graef on behalf of themselves and all others similarly situated, Plaintiffs-Appellants, v. GLENFED, INC., Norman M. Coulson, Raymond D. Edwards, Dann V. Angeloff, Dean R. Bailey, Charles T. Blair, Douglas A. Clarke, Morris K. Daley, Richard O. Kearns, Walter A. Ketcham, Jean C. Roeschlaub, Jack D. Steele, Gilbert R. Vasquez, E. Gex Williams, Jr., Keith P. Russell, Jr., Defendants-Appellees.

United States Court of Appeals, Ninth Circuit.

Memorandum September 15, 1993.

Order and Opinion November 15, 1993.

Amended Opinion December 22, 1993.

Order Granting Rehearing February 25, 1994.

Argued and Submitted April 21, 1994.

Decided December 9, 1994.


Attorney(s) appearing for the Case

Arthur R. Miller, Cambridge, MA, for plaintiffs-appellants.

Martin Carl Washton, Gibson, Dunn & Crutcher, Los Angeles, CA, for defendants-appellees.

Edward M. Gergosian, Barrack, Rodos & Bacine, San Diego, CA, for amicus.

Thomas J. Greco, American Bankers Ass'n, Washington, DC, for amicus.

Before: WALLACE, Chief Judge, SCHROEDER, FLETCHER, PREGERSON, CANBY, NORRIS, BEEZER, HALL, WIGGINS, RYMER and G. NELSON, Circuit Judges.


Opinion by Judge FLETCHER; Concurring only in result of Part IA of opinion, Judges NORRIS, BEEZER, HALL and RYMER; Separate Concurring opinion by Judge NORRIS, joined by Judges BEEZER, HALL and RYMER as to Parts I and III.

Order Granting Rehearing En Banc February 25, 1994.

FLETCHER, Circuit Judge:

A three-judge panel affirmed the district court's dismissal of plaintiffs' securities fraud class action against...

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