Federal Deposit Insurance Corporation, as Receiver for Banctexas Dallas, N.A., Defendant-Appellant-Cross-Appellee v. Letterman Brothers v. Stephen R. Desena, Plaintiffs-Appellees-Cross-Appellants

980 F.2d 1298 FEDERAL DEPOSIT INSURANCE CORPORATION, as Receiver for BancTexas Dallas, N.A., Defendant-Appellant-Cross-Appellee, v. LETTERMAN BROTHERS, Defendants-Appellants, v. Stephen R. DeSENA, et al., Plaintiffs-Appellees-Cross-Appellants. Nos. 91-15131, 91-15263 and 91-15601. United States Court of Appeals, Ninth Circuit. Argued and Submitted Oct. 5, 1992. Decided Dec. 8, 1992. Diane Gibson, Graham & James, San Francisco, Cal., for plaintiffs-appellees-cross-appellants De Sena. Bryce L. Letterman, pro se. David W. Slaby, Fenwick & West, Palo Alto, Cal., for defendant-appellant-cross-appellee FDIC as receiver, for BancTexas. Appeal from the United States District Court for the Eastern District of California. Before: FEINBERG, * GOODWIN, and SCHROEDER, Circuit Judges. SCHROEDER, Circuit Judge: 1 This litigation comes to us in a very unusual posture. Plaintiffs Stephen R. DeSena and other investors in oil and gas limited partnerships brought this action in the Superior Court for the State of California. They alleged a series of fraud and securities violations against defendants BancTexas Dallas ("BTD"), which helped to finance the oil and gas ventures, and Letterman…