In re Mutual Savings Bank Securities Litigation

*379 OPINION AND ORDER

FEIKENS, District Judge.

I. INTRODUCTION

This action has been brought to address alleged fraudulent conduct, on behalf of Defendant Mutual Savings Bank, f.s.b. (“Mutual” or “the Bank”), a federally chartered stock savings bank headquartered in Bay City, Michigan, by certain of its former and/or current officers and directors (“the Individual Defendants”), in violation of: Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, 15 U.S.C. § 78j(b) and § 78t(a); Rule 10b-5 promulgated thereunder by the Securities and Exchange Commission (“the SEC”), 17 C.F.R. §…