Legal Opinion
Chemical Bank v. Confino
Court of Appeals for the Ninth Circuit
Decided September 12, 1979No. 77-3735PublishedCited by 1 opinion
1Opinion of the Court
BARNES, Senior Circuit Judge:
This is an appeal from the district court’s order approving a plan of allocation of settlement funds in the Equity Funding Corporation of America Multi-district Securities Litigation. The major issue centers on the district court’s decision to reduce the “net adjusted loss” of each claimant by the value of shares and cash received by such claimants in a related Chapter X reorganization proceeding.
I. FACTS
The underlying litigation arose from the securities fraud perpetrated through the Equity Funding Corporation of America (“EFCA”) and its related companies.1 On *1355Apr…
2Cases cited17 opinions
- Warth v. SeldinSupreme Court of the United States · 1975
- Eisen v. Carlisle & JacquelinSupreme Court of the United States · 1974
- Group of Institutional Investors v. Chicago, M., St. P. & P.R. Co., and 9 Other CasesSupreme Court of the United States · 1943
- Mosser v. DarrowSupreme Court of the United States · 1951
- Grunin v. International House of PancakesCourt of Appeals for the Eighth Circuit · 1975
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3Cited by1 opinion
- In Re Equity Funding Corporation Of America Securities LitigationCourt of Appeals for the Ninth Circuit · 1979