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CONNECTICUT NAT. BANK v. RELIANCE INS. CO.

No. 87 CIV. 3216 (SWK).

704 F.Supp. 506 (1989)

The CONNECTICUT NATIONAL BANK, Plaintiff, v. RELIANCE INSURANCE COMPANY and Intercontinental Monetary Corporation, Defendant. RELIANCE INSURANCE COMPANY, Third-party Plaintiff, v. BATEHILL, INC., and Bateman, Eichler, Hill Richards, Incorporated, Third-party Defendants.

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

January 25, 1989.

Attorney(s) appearing for the Case

Law Offices of Russell H. Beatie, Jr., by Samuel J. Abate, Jr., New York City, for third-party plaintiff.

Morgan, Lewis & Bockius, by Robert M. Romano, New York City (James Wawro, Russell W. Chittenden, John M. Vassos, of counsel), for third-party defendants.

MEMORANDUM OPINION AND ORDER

KRAM, District Judge.

Plaintiff, the Connecticut National Bank ("CNB" or the "Bank"), instituted this action in May, 1987, against defendants Reliance Insurance Company ("Reliance") and Intercontinental Monetary Corporation ("IMC") alleging, among other things, violations of section 10(b) of the Securities Exchange Act of 1934 ("the 1934 Act"), 15 U.S.C. § 78j(b), and Rule 10b...

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