95 Cal. Daily Op. Serv. 9835, 95 Daily Journal D.A.R. 17,075 Morris Herring Raymond Herring James N. Corbett Luis Valenzuela Armando Alfaro, and Sherman Montgomery v. Federal Deposit Insurance Corporation

72 F.3d 762 95 Cal. Daily Op. Serv. 9835 , 95 Daily Journal D.A.R. 17,075 Morris HERRING; Raymond Herring; James N. Corbett; Luis Valenzuela; Armando Alfaro, and Sherman Montgomery, Plaintiffs-Appellants, v. FEDERAL DEPOSIT INSURANCE CORPORATION, Defendant-Appellee. No. 94-15779. United States Court of Appeals, Ninth Circuit. Argued and Submitted Nov. 14, 1995. Decided Dec. 26, 1995. Conrad Herring, San Diego, California, for plaintiffs-appellants. Lawrence G.D. Scarborough, Brown & Bain, Phoenix, Arizona, for defendant-appellee. Appeal from the United States District Court for the District of Arizona. Before: CHOY, WIGGINS, and LEAVY, Circuit Judges. CHOY, Circuit Judge: 1 Appellants Morris Herring et al. ("the shareholders") appeal the summary judgment in favor of the Federal Deposit Insurance Corporation ("FDIC") in their independent action to set aside a state-court judgment for fraud on the court. We affirm. I. Factual and Procedural Background 2 In September 1981, the Arizona Superintendent of Banks placed Southwestern Bank ("Southwestern") in receivership. On May 1, 1990, the FDIC as court-appointed receiver petitioned the Arizona Superior Court to enter an order…