Opinion ID: 751774
Heading Depth: 1
Heading Rank: 1

Heading: introduction

Text: 1 Gary E. Hindes, and other shareholders of Meritor Savings Bank (Meritor), appeal from various district court orders dismissing their claims against the Federal Deposit Insurance Corporation (FDIC) and the Pennsylvania Secretary of Banking (Secretary). Appellants contend that the appellees wrongfully seized Meritor, thereby depriving them of their substantive due process rights. More particularly, appellants allege that the FDIC reneged on an agreement with Meritor with respect to the computation of its capital base, ignored Meritor's actual financial condition when seizing Meritor, and engaged in a conspiracy with state officials to close the bank. Appellants also assert that the FDIC violated certain of its statutory duties as receiver. 2 The district court had jurisdiction pursuant to 28 U.S.C. §§ 1331 and 1367 and 12 U.S.C. §§ 1819(b)(2)(A) and 1821(d)(6)(A). We have jurisdiction to review the final orders of the district court pursuant to 28 U.S.C. § 1291. We exercise plenary review over the issues on this appeal, as they all require review of the district court's interpretation and application of legal precepts. See Turner v. Schering-Plough, Corp., 901 F.2d 335, 340 (3d Cir.1990).