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IN RE CENDANT CORP. PRIDES LITIGATION

No. 00-1822.

234 F.3d 166 (2000)

In re: CENDANT CORPORATION PRIDES LITIGATION Welch & Forbes, Inc., an institutional investment manager, individually and on behalf of all others similarly situated, v. Cendant Corporation; Merrill Lynch & Co.; Chase Securities, Inc.; Henry R. Silverman; Walter A. Forbes; Cosmo Corigliano Chase Manhattan Bank, as custodian for Capital Income Builder, Inc.; Income Fund of America, Inc.; Capital World Growth and Income, Inc., (Pursuant to Rule 12(a), F.R.A.P.), Appellants.

United States Court of Appeals, Third Circuit.

Filed December 1, 2000.

Attorney(s) appearing for the Case

Gerald T. Ford, Esquire (Argued) Landman, Corsi, Ballaine & Ford, One Gateway Center Suite 400 Newark, N.J. 07102, Counsel for Appellants.

Michael M. Rosenbaum, Esquire (Argued) Carl Greenberg, Esquire Budd, Larner, Gross, Rosenbaum, Greenberg & Sade, 150 John F. Kennedy Parkway CN 1000 Short Hills, N.J. 07078-0999, Counsel for Appellee Cendant Corporation.

Roger W. Kirby, Esq. Kirby, McInerney & Squire 830 Third Avenue 10th Floor New York, N.Y. 10022, Counsel for Appellee Welsch & Forbes, Inc.

Before BECKER, Chief Judge, MANSMANN and FUENTES, Circuit Judges.

OPINION OF THE COURT

MANSMANN, Circuit Judge.

Chase Manhattan Bank appeals the District Court's denial of its Fed.R.Civ.P. 60(b) motion for reconsideration of the final judgment excluding Chase from the settlement of a securities fraud action that investors brought against Cendant. Chase's portion of the settlement fund, which would have exceeded $23 million, reverts to Cendant under the terms of the settlement...

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