DISCLAIMER: Any unofficial case summaries below are prepared by the clerk's office
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181764P.pdf 08/07/2019 Steven Chase v. First Fed. Bank of Kansas City
U.S. Court of Appeals Case No: 18-1764
U.S. District Court for the Western District of Missouri - Kansas City
[PUBLISHED] [Gruender, Author, with Stras and Kobes, Circuit Judges]
Civil case. Plaintiffs appeal the dismissal of their putative class action
which alleged, among other counts, that the directors of Interstate bank,
a federally chartered mutual savings and loan, breached their fiduciary
duty by failing to distribute excess capital to the members prior to a
merger with defendant First Federal; the district court correctly held
that Interstate's members did not have an ownership interest in the
surplus, under either long-standing Supreme Court precedent or the terms
of Interstate's charter.