In re IMPERIAL CORPORATION OF AMERICA, Related Litigation.
FEDERAL DEPOSIT INSURANCE CORPORATION, in its corporate capacity and as receiver for Imperial Federal Savings Association, Plaintiff-Appellant,
v.
Robert S. ALSHULER, Defendant,
and
Barclay Davidson, Michael Lea, and Anthony E. Maniscalco, II, Defendants-Appellees.
FEDERAL DEPOSIT INSURANCE CORPORATION, in its corporate capacity and as receiver for Imperial Federal Savings Association, Plaintiff-Appellant,
v.
Mark L. KLINE, Defendant-Appellee.
FEDERAL DEPOSIT INSURANCE CORPORATION, in its corporate capacity and as receiver for Imperial Federal Savings Association, Plaintiff-Appellant,
v.
Robert S. ALSHULER, et al., Defendants,
and
Gary M. Cypres, Defendant-Appellee.
United States Court of Appeals, Ninth Circuit.https://leagle.com/images/logo.png
Argued and Submitted April 11, 1996.
Decided August 19, 1996.
Attorney(s) appearing for the Case
Roberta H. Clark, Federal Deposit Insurance Corporation, Washington, D.C., for the plaintiff-appellant.
Seth Aronson, O'Melveny & Myers, Los Angeles, California, for defendant-appellee Gary M. Cypres.
Peter K. Rosen and Mark P. Lynch, Weisman & Rosen, Los Angeles, California, for defendants-appellees Mark L. Kline and Michael Lea.
Paul M. Mahoney, Jones, Mahoney & Brayton, Claremont, California, for defendant-appellee Anthony E. Maniscalco, II.
Jeffrey L. Jackson, San Diego, California, for defendant-appellee Barclay Davidson.
Before: O'SCANNLAIN and TROTT, Circuit Judges; VAN SICKLE, District Judge.
United States Court of Appeals, Ninth Circuit.
O'SCANNLAIN, Circuit Judge:
In this first of two related cases1 arising out of the failure of the Imperial Savings Association, we must decide whether a court-approved settlement of a shareholder derivative suit precludes the receiver from bringing mismanagement claims against former officers and directors.
I
The Federal Deposit Insurance Corporation ("FDIC"), as receiver for failed savings and loan Imperial Savings Association...
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