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SHIELDS v. AMOSKEAG BANK SHARES, INC.

Civ. Nos. 90-83-D, 90-85-D, 90-86-D.

766 F.Supp. 32 (1991)

Sarah B. SHIELDS, on behalf of herself and all others similarly situated v. AMOSKEAG BANK SHARES, INC.; Amoskeag Bank; James U. Edwards, III; James S. Yakovakis; Peter J. Allen; Milton Machinist; Edward L. Allman; Raymond B. Woolson; John L. Allen; Howard W. Keegan; William S. Bushnell. Nishan SERABIAN, on behalf of himself and all others similarly situated v. AMOSKEAG BANK SHARES, INC.; Amoskeag Bank; James U. Edwards, III; James S. Yakovakis; Peter J. Allen; Milton Machinist; Edward L. Allman; Raymond B. Woolson; John L. Allen; Howard W. Keegan; William S. Bushnell. Emilio LO PRIORE, Lena Lo Priore, on behalf of themselves and all others similarly situated v. AMOSKEAG BANK SHARES, INC.; Amoskeag Bank; James U. Edwards, III; James S. Yakovakis; Peter J. Allen; Milton Machinist; Edward L. Allman; Raymond B. Woolson; John L. Allen; Howard W. Keegan; William S. Bushnell.

United States District Court, D. New Hampshire.

May 17, 1991.

Attorney(s) appearing for the Case

Greenfield & Chimicles by Richard D. Greenfield, Francis J. Farina, Haverford, Pa., Berman, Devalerio & Pease by Peter Pease, Boston, Mass., Levin, Fishbein, Sedran & Berman by Arnold Levin, Philadelphia, Pa., Bouchard & Mallory, P.A., by Mark L. Mallory, Manchester, N.H., for plaintiffs.

Dilworth, Paxson, Kalish & Kauffman by David H. Pittinsky, Lawrence D. Berger, Philadelphia, Pa., Upton, Sanders & Smith by Frederic K. Upton, Robert Upton, II, Concord, N.H., Devine, Millimet, Stahl & Branch, by E. Donald Dufresne, Manchester, N.H., for defendants.

ORDER

DEVINE, Chief Judge.

The above-captioned cases are representative of a host of securities fraud lawsuits filed in federal district courts against New England banks as a result of the woefully deteriorating real estate markets and recessionary economic conditions in the Northeast. Plaintiffs bring these actions seeking damages incurred as a result of defendants' alleged violations of the Securities Exchange Act of 1934 §§ 10(b), 20; and its...

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