Three class actions by shareholders against Carver Federal Savings Bank have been dismissed by the U.S. District Court in Manhattan.

The court said it lacks the statutory authority to review decisions by the Office of Thrift Supervision. Only a circuit court of appeals can review decisions by federal agenciesm the district court ruled.

The lawsuits, which accused the minority-owned thrift of misleading investors in the prospectus for its October 1994 stock conversion, had sought rescission, restitution, or unspecified money damages.

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