Legal Opinion
Dougherty ex rel. Gomberg v. Carver Federal Savings Bank
Court of Appeals for the Second Circuit
Decided April 30, 1997No. 110, Docket 96-7131PublishedCited by 1 opinion
1Opinion of the Court
CARDAMONE, Circuit Judge.
This appeal arises out of the conversion by defendant Carver Federal Savings Bank (Carver or Bank) from the mutual to the stock form of ownership in the fall of 1994. In connection with that transaction, Carver issued 2,314,375 shares of common stock to investors at a price of $10 per share. Plaintiffs Robert L. Dougherty, Joseph Uminer and Norman Gomberg each subscribed for and purchased Carver stock at the $10 price, purchasing respectively $150,000, $86,800 and $350,300 worth of Carver stock, only to see the stock lose a substantial portion of its value in the…
2Cases cited14 opinions
- J. I. Case Co. v. BorakSupreme Court of the United States · 1964
- United States v. Utah Construction & Mining Co.Supreme Court of the United States · 1966
- Lampf, Pleva, Lipkind, Prupis & Petigrow v. GilbertsonSupreme Court of the United States · 1991
- Tcherepnin v. KnightSupreme Court of the United States · 1967
- American Tobacco Co. v. PattersonSupreme Court of the United States · 1982
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3Cited by1 opinion
- Dougherty v. Carver Federal Savings BankCourt of Appeals for the Second Circuit · 1997