CHICAGO - Directors and officers of a company claimed in an Illinois federal court on April 19 that they are protected from a shareholder's allegations under the business judgment rule (Frank Jeffers v. Retail Properties of America, Inc., et al.,... Read More
CHICAGO - The trustee in the Chapter 7 bankruptcy of Peregrine Financial Group Inc. on March 25 moved in the U.S. Bankruptcy Court for the Northern District of Illinois to compel Halyard Capital Advisors LLC to produce documents pursuant to a subpoena... Read More
DENVER - A federal judge in Colorado on April 23 granted the defendants' motion to transfer to a district court in Illinois a suit filed against them by a bank attempting to recover amounts owed on a promissory note, loan agreement and two commercial... Read More
WASHINGTON, D.C. - The U.S. Supreme Court today agreed to hear a case to determine whether a defalcation was committed by a debtor who, prior to filing for bankruptcy, had been appointed the trustee of his father's life insurance trust and took out... Read More
CHICAGO - An Illinois federal judge on Nov. 15 granted in part and denied in part the Federal Deposit Insurance Corp.'s motion to strike affirmative defenses in a suit it filed against the former officers of the failed Wheatland Bank alleging, among... Read More
CHICAGO - A Chicago man and his grandmother can pursue claims that CitiMortgage Inc. violated the Illinois Consumer Fraud Act (ICFA) by failing to adequately evaluate their request for a loan modification, a federal judge in Illinois ruled March 26, explaining... Read More
CHICAGO - Arguing against dismissal in a securities violation case against a company and its directors, a shareholder tells an Illinois federal court in a June 21 brief that the complaint does not sound in fraud and, therefore, state of mind need not... Read More
CHICAGO - A federal judge in Illinois on April 2 denied a bank's motion to compel arbitration and stay proceedings in a suit in which a plaintiff alleges that the bank made unauthorized phone calls in an attempt to collect on a loan in violation of... Read More
CHICAGO - A federal judge in Illinois on Sept. 24 denied a collection agency's motion for summary judgment in a Fair Debt Collection Practices Act (FDCPA) 15 U.S.C.S. §§1692 et seq. suit, ruling that the plaintiff consumers have raised genuine... Read More
CHICAGO - A federal judge in Illinois on May 15 dismissed a pair of shareholders' derivative lawsuit, finding that they did not state any valid reason for failing to make demand on a board of directors prior to filing suit (Bonnie Mitchell, et al... Read More
CHICAGO - A federal judge in Illinois on March 14 granted in part and denied in part motions for summary judgment filed by plaintiffs and defendants in a suit in which the plaintiffs seek rescission of loans and statutory damages under the Truth in Lending... Read More
CHICAGO - In a suit filed by the Federal Deposit Insurance Corp. as the receiver for a failed bank, a federal judge in Illinois on March 1 denied dismissal of a third-party complaint filed by the law firm that was retained by the bank, explaining that... Read More
CHICAGO - The trustee in the Chapter 7 bankruptcy of former financial company Peregrine Financial Group Inc. on March 19 moved in the U.S. Bankruptcy Court for the Northern District of Illinois for authorization to examine Peregrine's former accountant... Read More
CHICAGO - JPMorgan Chase Bank N.A. filed a brief in the U.S. Bankruptcy Court for the Northern District of Illinois on Aug. 6 opposing a motion by the trustee in the Chapter 7 bankruptcy of Peregrine Financial Group Inc., arguing that the trustee should... Read More
CHICAGO - An Illinois federal judge on July 13 dismissed a shareholder derivative lawsuit and said a shareholder failed to prove that presuit demand on a company's board of directors would have been futile ( Gordon, Derivatively on Behalf of Navigant... Read More