Rayman v. Peoples Savings Corp.

MEMORANDUM OPINION AND ORDER

SHADUR, District Judge.

This action arises out of the sale by plaintiff Steven Rayman (“Rayman”) of all the shares of stock (the “Shares”) of Crest Savings (“Crest”) to defendant Peoples Savings Corporation (“PSC”), immediately followed by PSC’s transfer of the Shares to its wholly-owned subsidiary (and present codefendant) Peoples Bank for Savings (“PBS”). Two other codefendants, James Flanagan and his wife Bridget, 1 have moved for leave 2 (1) to file a counterclaim against Rayman, (2) to join as an added defendant to that counterclaim former Crest President…