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Directors And Officers: Shareholders Failed To Prove Presuit Demand Futility
Posted on 18 Jan 2013 by Mealeys

CHICAGO - A company's directors and officers said in an Illinois federal court on Jan. 15 that two shareholders' derivative lawsuit should be dismissed because the shareholders allegedly failed to show that presuit demand upon the company's... Read More

Illinois Panel: Shareholder Failed To Show Presuit Demand Would Have Been Futile
Posted on 30 Mar 2012 by Mealeys

CHICAGO - An Illinois Appellate Court panel on March 27 affirmed a lower court decision, finding that a shareholder had failed to allege with particularity why presuit demand on a company's board of directors would have been futile (In re Huron Consulting... Read More

Magistrate Judge Grants Summary Judgment To Government In Student-Loan Suit
Posted on 17 May 2013 by Mealeys

CHICAGO - A federal magistrate judge in Illinois on May 16 granted the U.S. government's motion for summary judgment in a student-loan collection suit and rejected the debtor's $50 million counterclaim, finding that a district court lacked subject... Read More

Directors And Officers Ask Judge To Dismiss Shareholder Derivative Complaint
Posted on 8 Apr 2013 by Mealeys

CHICAGO - Directors and officers of a company told an Illinois federal judge on April 5 that they have corrected the alleged error complained about by a shareholder in a derivative suit and that, therefore, the suit should be dismissed (Jan Donnawell... Read More

Federal Judge Dismisses Counts In Suit Arising From Loan Error
Posted on 29 Mar 2012 by Mealeys

CHICAGO - A federal judge in Illinois on March 28 partially granted a motion to dismiss in a suit accusing Wachovia Mortgage Corp. of violating the Fair Credit Reporting Act (FCRA) and Real Estate Settlement Procedures Act (RESPA) after an error was made... Read More

Defendants Win Summary Judgment In ATM Fees Notice Case
Posted on 20 Sep 2012 by Mealeys

CHICAGO - A federal judge in Illinois on Sept. 17 granted a bank and an ATM owner and operator's motion for summary judgment in a putative class action that alleges that the defendants violated the Electronic Funds Transfer Act's (EFTA) 15 U.S... Read More

FirstMerit Bank Wins Summary Judgment In Breach Of Guaranty Case
Posted on 24 Oct 2012 by Mealeys

CHICAGO - FirstMerit Bank NA, as the successor to the failed Midwest Bank and Trust Co., is entitled to payments from people who breached their personal guarantees on a commercial loan, a federal judge in Illinois ruled Oct. 22 ( FirstMerit Bank, NA v... Read More