David B. KUSNER, Appellant, v. FIRST PENNSYLVANIA CORPORATION Et Al.

OPINION OF THE COURT

Before HASTIE, GIBBONS and ROSENN, Circuit Judges. GIBBONS, Circuit Judge.

This is an appeal from part of an order dismissing a complaint on the ground that the plaintiff lacks standing to assert the claims alleged in any of the four counts. Plaintiff-appellant is David B. Kusner, the holder of eighteen convertible debentures and warrants to purchase shares of the First Pennsylvania Mortgage Trust (the Trust), a Massachusetts business trust organized under the sponsorship of First Pennsylvania Corporation. The defendants are First Pennsylvania Corporation; its subsidiaries,…