Fed. Sec. L. Rep. P 93,374, 24 Fed. R. Evid. Serv. 296 Helen Smith v. James F. Mulvaney, William B. Conneley, Harold S. Jurgensen, Floyd A. Blower, William F. Croddy, Douglas R. Giddings, James K. Guthrie, Ernest W. Hahn, Clement L. Hirsch, Arthur H. Kaplan, C. Hugh Friedman, and Hollis Roberts

827 F.2d 558 Fed. Sec. L. Rep. P 93,374, 24 Fed. R. Evid. Serv. 296 Helen SMITH, Plaintiff-Appellant, v. James F. MULVANEY, William B. Conneley, Harold S. Jurgensen, Floyd A. Blower, William F. Croddy, Douglas R. Giddings, James K. Guthrie, Ernest W. Hahn, Clement L. Hirsch, Arthur H. Kaplan, C. Hugh Friedman, and Hollis Roberts, Defendants-Appellees. No. 86-6076. United States Court of Appeals, Ninth Circuit. Argued and Submitted Feb. 6, 1987. Decided Sept. 4, 1987. 1 Kenneth Poovey and Joel H. Mack, San Diego, Cal., for plaintiff-appellant. 2 Mark W. Hansen and Lann G. McIntyre, San Diego, Cal., Thomas J. Ready (argued) and Jeffrey I. Ehrlich, Los Angeles, Cal., for defendants-appellees. 3 Appeal from the United States District Court for the Southern District of California. 4 Before NELSON, BEEZER, and LEAVY, * Circuit Judges. LEAVY, District Judge: Nature of Appeal 5 Helen Smith brought this action for contribution against the former directors of the United States National Bank of San Diego (Bank) under Section 10(b) of the Securities and Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. The trial court found that a right of contribution existed under Section 10(b)…