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LONERGAN v. CRUCIBLE STEEL CO.

Nos. 40114, 40133 cons.

37 Ill.2d 599 (1967)

229 N.E.2d 536

ARTHUR J. LONERGAN et al., Appellants, v. CRUCIBLE STEEL COMPANY OF AMERICA et al., Appellees.

Supreme Court of Illinois.

Rehearing denied September 27, 1967.

Attorney(s) appearing for the Case

MAX WILDMAN, JOHN M. O'CONNOR, JR., JOHN W. KEARNS, JR., and KIRKLAND, ELLIS, HODSON, CHAFFETZ & MASTERS, all of Chicago, for appellants.

W. McNEIL KENNEDY, ROY S. KULLBY, ROBERT P. HOWINGTON, JR., and POPE, BALLARD, URIELL, KENNEDY, SHEPARD & FOWLE, all of Chicago, (WILLIAM H. KNOELL, of Pittsburgh, Pennsylvania, of counsel,) for appellees Crucible Steel Company of America and R.A. Aishton.

ALBERT E. JENNER, JR., CHARLES J. O'LAUGHLIN, THOMAS P. SULLIVAN, RICHARD P. GLOVKA, and RAYMOND, MAYER, JENNER & BLOCK, all of Chicago, (WILLIAM D. RANDOLPH, of Fullerton, California, of counsel,) for appellees Wheeling Steel Corporation and Hunt Foods and Industries, Inc.

Appellate Court reversed, circuit court affirmed, and cause remanded.

Mr. JUSTICE HOUSE delivered the opinion of the court:

This is a derivative action brought in the circuit court of Cook County by four shareholders of Crucible Steel Company of America on behalf of themselves and other shareholders of the corporation similarly situated. The defendants are Crucible, Wheeling Steel Corporation, Hunt Foods and Industries, Inc., and 46 persons who are, or were...

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