Ridder v. Cityfed Financial Corp.

OPINION

SAROKIN, District Judge.

Before the court is plaintiffs motion for a preliminary injunction or, in the alternative, for summary judgment.

Introduction

The rash of savings and loan failures throughout the country has prompted a number of suits against officers and directors of those institutions alleging their responsibility for such failures and the concomitant losses sustained by depositors and other claimants. In many instances, as in this case, officers and directors have been promised indemnification and the advancement of defense costs if named in lawsuits arising from the…