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IN RE CENDANT CORPORATION PRIDES LITIGATION

No. 00-5198.

235 F.3d 176 (2000)

In re: CENDANT CORPORATION PRIDES LITIGATION. Welsh & 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, Santander Merchant Bank Limited, (Pursuant to Rule 12(a), F.R.A.P.), Appellant.

United States Court of Appeals, Third Circuit.

Filed: December 13, 2000.

Attorney(s) appearing for the Case

Kathryn A. McDonald, Esquire, (Argued), Jayne S. Robinson, Esquire, Robinson, Murphy & McDonald, 100 Park Avenue, New York, NY 10017. Paul J. Dillon, Esquire, Bloom, Rubinstein, Karinja & Dillon, 70 South Orange Avenue, Suite 215, Livingston, N.J. 07039, Counsel for Appellant.

Michael M. Rosenbaum, Esquire, (Argued), Carl Greenberg, Esquire, Budd, Larner, Gross, Rosenbaum, Greenberg & Sade, 150 John F. Kennedy Parkway, CN 1000, Short Hills, NY 07078-0999. Samuel Kadet, Esq., Skadden, Arps, Slate, Meagher & Flom, Four Times Square, New York, NY 10036, Counsel for Appellee. Cendant Corporation.

Roger W. Kirby, Esq., Kirby, McInerney & Squire, 830 Third Avenue, 10th Floor, New York, NY 10022, Counsel for Appellee.

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

OPINION OF THE COURT

MANSMANN, Circuit Judge.

Santander Merchant Bank Limited appeals the District Court's denial of its Fed.R.Civ.P. 60(b) motion for reconsideration of the final judgment that excluded Santander from the settlement of the underlying securities fraud action brought by investors against Cendant. Specifically, Santander claims that the District Court erred in failing to apply correctly the standards for determining "excusable neglect" in denying...

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