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ZINMAN v. FEDERAL DEPOSIT INS. CORP.

Civ. A. No. 80-3281.

567 F.Supp. 243 (1983)

Philip ZINMAN, Individually and on behalf of all others similarly situated v. FEDERAL DEPOSIT INSURANCE CORPORATION.

United States District Court, E.D. Pennsylvania.

June 30, 1983.

Attorney(s) appearing for the Case

Stuart H. Savett, Kohn, Savett, Marion & Graf, Philadelphia, Pa., for plaintiffs.

Arthur R. Littleton, Robert W. Sayre, Philadelphia, Pa., Frank L. Skillern Jr., Washington, D.C., for defendants.

MEMORANDUM and ORDER

SHAPIRO, District Judge.

I. INTRODUCTION

Plaintiff, owner of common stock of First Pennsylvania Corporation ("First Pennsy"), the holding company of the First Pennsylvania Bank, NA ("First Pennsylvania Bank" or "Bank"), instituted this action, individually and on behalf of a putative class of shareholders of all common stock to challenge the statutory authority of the Federal Deposit Insurance Corporation ("FDIC") in imposing...

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