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RIDDER v. CITYFED FINANCIAL CORP.

No. 94-5343.

47 F.3d 85 (1995)

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

United States Court of Appeals, Third Circuit.

Decided February 9, 1995.

Sur Petition for Rehearing March 22, 1995.

Attorney(s) appearing for the Case

Richard Harrington (argued), Chandler, Wood, Harrington & Maffly, San Francisco, CA and Michael A. Saffer, Chapman, Henkoff, Kessler, Peduto & Saffer, Roseland, NJ, for appellants.

Ronald W. Stevens (argued), Matthew D. Anhut, Kirkpatrick & Lockhart, Washington, DC and William C. Cagney, Lane & Mittendorf, Edison, NJ, for appellee.

Before: GREENBERG and ROTH, Circuit Judges, and FULLAM, District Judge

OPINION OF THE COURT

FULLAM, District Judge:

The appellants, Willem Ridder, Lyndon C. Merkle, John T. Hurst and Gregory DeVany, were employed by City Collateral and Financial Services, Inc. a wholly owned subsidiary of City Federal Savings Bank, which in turn was the wholly owned subsidiary of appellee CityFed Financial Corporation ("CityFed"), a Delaware corporation now in receivership. Resolution Trust Corporation ("RTC"), as receiver for CityFed, has...

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