Sarah B. Shields, Individually and as Representative of All Others Similarly Situated v. Citytrust Bancorp, Inc., George F. Taylor and Irwin Engelman

U.S. Court of Appeals, Second Circuit · Decided 1994-06-02

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JACOBS, Circuit Judge: As the aggrieved holder of somewhat less than one share of stock in Citytrust Bancorp, Inc. (“Citytrust”), Sarah B. Shields brought this class action claiming that Citytrust and two of its senior executives concealed and misrepresented Citytrust’s financial condition — in particular, facts concerning its loan portfolio and loan loss reserves — in violati…

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