RIDDER v. CITYFED FINANCIAL CORP.

Civ. No. 93-1676 (HLS).

853 F.Supp. 131 (1994)

Willem RIDDER, Lyndon C. Merkle, John T. Hurst and Gregory Devany, Plaintiffs, v. CITYFED FINANCIAL CORPORATION, a Delaware Corporation, Defendant.

United States District Court, D. New Jersey.

May 24, 1994.


Attorney(s) appearing for the Case

Michael A. Saffer, Chapman, Henkoff, Kessler Peduto & Saffer, Roseland, NJ, for plaintiffs.

William C. Cagney, Lane & Mittendorf, Edison, NJ, for defendant.


OPINION

SAROKIN, District Judge.

Before the court is plaintiff's motion for a preliminary injunction or, in the alternative, for summary judgment.

Introduction

The rash of savings and loan failures throughout the country has prompted a number of suits against officers and directors of those institutions alleging their responsibility for such failures and the concomitant losses sustained by depositors and other claimants. In many...

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