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HOUSLER v. FIRST NAT. BANK OF EAST ISLIP

Nos. 73 C 1123, 74 C 333.

484 F.Supp. 1321 (1980)

Charles HOUSLER et al., Plaintiffs, v. The FIRST NATIONAL BANK OF EAST ISLIP, Russell J. Wolpert, et al., Defendants. Charles H. WOLPERT et al., Plaintiffs, v. The FIRST NATIONAL BANK OF EAST ISLIP, Charles J. Thornewell, et al., Defendants.

United States District Court, E. D. New York.

February 28, 1980.

Attorney(s) appearing for the Case

Donner, Fagelson, Hariton & Berka, Bay Shore, N. Y., for plaintiffs Wolpert, et al. by Frederick Fagelson, Bay Shore, N. Y.

Finley, Kumble, Wagner, Heine & Underberg, New York City, for defendants First Nat. Bank of East Islip by Donald S. Snider, Theodore J. Greene, New York City.

MEMORANDUM AND ORDER

NEAHER, District Judge.

Plaintiffs in these consolidated actions, shareholders of The First National Bank of East Islip ("the Bank"), sue derivatively on its behalf and as a class to recover bank funds allegedly used or wasted by the named defendant directors of the Bank in violation of federal statutes and their common law duties. By order in the Wolpert action dated June 28, 1974...

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