First Interstate Bank of Denver, N.A. v. Central Bank & Trust Co.

Opinion by

Judge DAVIDSON.

In this securities action, plaintiff, First Interstate Bank of Denver, N.A., appeals from a judgment of the trial court dismissing its complaint against defendant, The Central Bank & Trust Co., on the grounds that plaintiffs claims were barred by res judicata and the statute of repose. We reverse.

In 1989, plaintiff sued defendant in federal court based on an implied private cause of action for aiding and abetting violations of § 10(b) of the Securities Exchange Act of 1934, 15 U.S.C. § 78j(b)(1988 & Supp. Ill 1991). See First Interstate Bank, N.A. v. Pring, 969 F.2d…