In re Multidistrict Litigation Involving Banking Agreements with Stirling Homex Corp.

OPINION AND ORDER

This litigation consists of four actions in four districts brought by former controlling officers and shareholders of Stirling Homex Corporation. The defendants in all of the actions are members of a banking consortium with whom Stirling and a subsidiary dealt in attempting to secure adequate financing for their operations. Plaintiffs allege that the nine defendant banks violated *573the federal securities laws and committed common law fraud by falsely representing their intention to extend credit to Stirling and its subsidiary. The complaints in each of the actions also contain…