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NEWBERG v. FEDERAL SAVINGS AND LOAN INSURANCE CORP.

Nos. 69 C 1043, 70 C 518.

317 F.Supp. 1104 (1970)

Paul K. NEWBERG, Plaintiff, v. FEDERAL SAVINGS AND LOAN INSURANCE CORPORATION, etc., et al., Defendants.

United States District Court, N. D. Illinois, E. D.

August 11, 1970.

Attorney(s) appearing for the Case

Eugene F. Welter, Chicago, Ill., for plaintiff.

David R. Shevitz, Pope, Ballard, Kennedy, Shepard & Fowle, Chicago, Ill., for defendants.

Mitchell Edelson, Jr., Chicago, Ill., for counterdefendant Mercurio.

MEMORANDUM OPINION

DECKER, District Judge.

Plaintiff Paul K. Newberg brought this action against the Federal Savings and Loan Insurance Corporation ("FSLIC"), Service Savings and Loan Association ("Service"), and Thomas J. Garvey and Chester Zarecki, liquidators of Service ("liquidators"), alleging that he was fraudulently induced to buy shares in Service from its former directors and officers. The FSLIC then counterclaimed against Newberg, naming James...

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