Golden State (GSB) formerly Glendale Savings Message Board

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Non-Tech : Golden State (GSB) formerly Glendale Savings

GSB 9.480

0.0%

Aug 28 5:00 PM EST

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To: Paul Lee who wrote (48)	6/9/1999 12:20:00 PM
From: Richard A. Green	of 75

Thanks for the update, Paul. A related case is still before Judge Smith, and should be interesting to follow - the Benj. Franklin Federal Savings & Loan Bank (BENJ) (final arguments in July) - comparable to the Glendale Fed case (GSBNZ - litigation warrants) and Calfed (CALGZ - litigation warrants). In contrast to the glenfed and calfed cases, Benj. Franklin was seized outright. glenfed and calfed set up litigation tracking stock (warrants??) to reflect only the value of the expected damages separate from the underlying value of the ongoing concerns before subsequent mergers. BENJ continues to be traded over the counter. Best wishes, Richard A. Green

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