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HOME FED. SAV. & L. ASS'N OF SO. v. MERRILL LYNCH

Civ. A. No. CV 81-G-1569-S.

525 F.Supp. 393 (1981)

HOME FEDERAL SAVINGS AND LOAN ASSOCIATION OF the SOUTH, a corporation, Jefferson Federal Savings and Loan Association, a corporation, First Federal Savings and Loan Association, City Federal Savings and Loan Association, a corporation, Plaintiffs, v. MERRILL LYNCH, PIERCE, FENNER & SMITH, INCORPORATED, a Delaware Corporation, Defendant.

United States District Court, N. D. Alabama, S. D.

October 20, 1981.

Attorney(s) appearing for the Case

W. S. Pritchard, Jr., William S. Pritchard, III, Pritchard, McCall, Jones, Spencer & O'Kelley, Birmingham, Ala., for Home Federal Sav. & Loan.

Douglas Corretti, Birmingham, Ala., for Jefferson Federal.

L. Burton Barnes, Lange, Simpson, Robinson & Sommerville, Frank Dominick, Dominick, Fletcher, Yeilding, Acker, Wood & Lloyd, Birmingham, Ala., for First Federal Sav.

Thomas W. Christian, Thomas A. Carraway, Rives & Peterson, Birmingham, Ala., for defendant Merrill Lynch.

MEMORANDUM OPINION

GUIN, District Judge.

This cause is presently before the court on defendant's motion to dismiss. Four savings and loan associations filed this action against Merrill Lynch, Pierce, Fenner & Smith, Inc. (Merrill Lynch). Plaintiffs allege that the defendant is receiving a brokerage fee in connection with the issuance of All Savers Certificates (ASC) by California Federal Savings and Loan Association (California Federal) in violation...

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