Legal Opinion
Wolpert v. First National Bank of East Islip
District Court, E.D. New York
Decided September 9, 1974No. 74 C 333PublishedCited by 5 opinions
1Opinion of the Court
MEMORANDUM AND ORDER
NEAHER, District Judge.
This is a derivative action by shareholders of The First National Bank of East Islip, Suffolk County (hereinafter “the Bank”), on behalf of themselves and other shareholders against the Bank and its board of directors. The complaint alleges various acts of self-dealing, mismanagement and violation of federal statutes by the directors causing substantial losses to the Bank. Plaintiffs seek removal of the present directors, an accounting, and recovery of any losses. The case is still in the preliminary phases, most of the activity to date having…
2Cases cited19 opinions
- J. I. Case Co. v. BorakSupreme Court of the United States · 1964
- Anderson National Bank v. LuckettSupreme Court of the United States · 1944
- In re the election of Directors of the Long Island RailroadNew York Supreme Court · 1837
- In re KaminskyAppellate Division of the Supreme Court of the State of New York · 1937
- Chris-Craft Industries, Inc. v. Independent Stockholders CommitteeDistrict Court, D. Delaware · 1973
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3Cited by5 opinions
- Housler v. First Nat. Bank of East IslipDistrict Court, E.D. New York · 1981
- Heffner v. Union National Bank & Trust Co.Court of Appeals for the Third Circuit · 1981
- Heffner v. Union National Bank And Trust CompanyCourt of Appeals for the Third Circuit · 1981
- Shevlin v. National Conservation Corp.Appellate Division of the Supreme Court of the State of New York · 1993
- Kleeberg v. EberDistrict Court, S.D. New York · 2019