Our Chicago business litigation firm recently handled a case in which one 50% shareholder allegedly tried to freeze out the other using lawyers hired by the companies owned equally by both. When our clients filed a shareholder freeze-out and breach of fiduciary duty claim and began discovery, the defendants…
In a business trademark dispute, the Seventh Circuit has ruled that large auto parts retailer AutoZone may proceed with its trademark infringement lawsuit against a two-store automotive services business in Naperville and Wheaton, Illinois, called Oil Zone and Wash Zone. AutoZone, Inc. v. Michael Strick, No. 07-2136 (7th.…
We have watched with dismay as report after report rolls in with bad financial news. Just like other Americans, many individuals and families here in the Chicago area are having more trouble making ends meet right now and may be at risk of losing their homes. Because our consumer…
Given all of the more recent high-profile financial failures, it might be easy to forget the fall of Bear Stearns, the first investment bank to go down in our current economic downturn. But we were interested to read recently that the firm recently settled charges that it violated the…
With our economy on the scids, debt collection abuse is on the rise. You can contact our Chicago area debt collection abuse prevention attorneys for a free consultation to advise you if you can stop debt collection abuse by filing suit. You can click here to see a copy…
Illinois Attorney General Lisa Madigan and 32 other states’ attorneys general scored a victory for consumers Oct. 7 when they reached a $62 million settlement with drug maker Eli Lilly over claims of unfair and deceptive marketing. The Associated Press reported that states sued Lilly for marketing its drug…
As Chicago business, shareholder rights and commercial law litigators, we frequently handle cases involving allegations of business fraud or financial mismanagement, often as part of complex business dispute, that require significant expertise in financial issues. When handling a divorce involving a family business or other closely held company, we also…
In a shareholder derivative action related to 2004’s merger between Bank One and J.P. Morgan Chase, the Illinois First District Court of Appeal upheld the dismissal with prejudice of a complaint filed by Bank One shareholders. Shaper v. Bryan, No. 1-05-3849 (March 8, 2007). The dispute grew out of…
In a shareholder and breach of fiduciary duty dispute arising from a probate case involving a closely held corporation with two shareholders, the Illinois Third District Court of Appeal has ruled that a shareholder agreement made by a decedent does not allow the remaining shareholder to execute the decedent’s…
A minority shareholder may withdraw his complaint under the Illinois Business Corporation Act of 1983, because the majority shareholder failed to meet requirements of that law, the Illinois Third District Court of Appeal ruled in an Illinois shareholder dispute lawsuit. Lohr v. Havens, 3-06-0930 (Nov. 11, 2007). Charles Lohr…