Collie v. Federal Home Loan Bank Board

MEMORANDUM AND ORDER

MORAN, District Judge.

Plaintiffs are stockholders in Glen Ellyn Savings and Loan Association (Glen Ellyn), a thrift institution chartered by the State of Illinois. On September 19, 1985, the Federal Home Loan Bank Board (FHLBB), defendant here, appointed the Federal Savings and Loan Insurance Corporation (FSLIC) receiver of Glen Ellyn pursuant to section 122 of the Garn-St. Germain Depository Institutions Act of 1982, 12 U.S.C. § 1729(c)(1)(B). The plaintiffs bring this action — both individually and derivatively on behalf of Glen Ellyn — under 12 U.S.C. § 1729(c)(3)(A) to…