Legal Opinion
In Re Franklin National Bank Securities Litigation
United States Judicial Panel on Multidistrict Litigation
Decided April 30, 1975No. 196PublishedCited by 16 opinions
1Opinion of the Court
OPINION AND ORDER
2Per curiam
I. Background
This litigation arises from the recent failure of the Franklin National Bank (FNB) and consists of ten actions in two federal districts — six in the Eastern District of New York and four in the Southern District of New York. These actions include an injunctive action by the SEC, five alleged class actions for damages on behalf of purchasers of securities issued by the Franklin New York Corporation (FNYC), which is FNB’s corporate parent, and four derivative damage actions on behalf of FNYC shareholders. In addition, FNB has been placed in receivership in the…
3Cases cited4 opinions
- In Re Equity Funding Corp. of America Securities LitigationUnited States Judicial Panel on Multidistrict Litigation · 1974
- In Re Air Crash Disaster at Florida Everglades on December 29, 1972United States Judicial Panel on Multidistrict Litigation · 1973
- In Re National Student Marketing LitigationUnited States Judicial Panel on Multidistrict Litigation · 1973
- In Re Caesar's Palace Securities LitigationUnited States Judicial Panel on Multidistrict Litigation · 1974
4Cited by16 opinions
- John David v. The Hooker, Ltd Hooker Music, Ltd., Ronald Haffkine, Non-PartyCourt of Appeals for the Ninth Circuit · 1977
- General Electric Company, a Corporation v. Hon. William Matthew Byrne, Jr., United States District Judge for the Central District of CaliforniaCourt of Appeals for the Seventh Circuit · 1979
- In Re Beef Industry Antitrust LitigationUnited States Judicial Panel on Multidistrict Litigation · 1977
- In Re Corrugated Container Antitrust Lit.United States Judicial Panel on Multidistrict Litigation · 1978
- CONSUMERS DISTRIBUTING CO. LTD. v. Tele-Save Merchandising Co.District Court, D. New Jersey · 1982
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