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SWANSON v. AMERICAN CONSUMER INDUSTRIES, INC.

Civ. A. No. P-2891.

328 F.Supp. 797 (1971)

Knute SWANSON, on behalf of Peoria Service Company, and on behalf of all shareholders of Peoria Service Company similarly situated, Plaintiff, v. AMERICAN CONSUMER INDUSTRIES, INC. et al., Defendants.

United States District Court, S. D. Illinois, N. D.

July 7, 1971.

Attorney(s) appearing for the Case

Richard Orlikoff and Arthur T. Susman, Chicago, Ill., Thomas V. Cassidy, Peoria, Ill., for plaintiff.

Frank O. Wetmore, II, and Frank B. Gilmer, Chicago, Ill., Eugene L. White, Peoria, Ill., for defendants.

DECISION AND ORDER

ROBERT D. MORGAN, District Judge.

Plaintiff, a shareholder of defendant, Peoria Service Company, filed this suit on behalf of Peoria and all Peoria shareholders who are similarly situated, praying injunctive and other relief based upon allegations that violation of Section 10(b) of the Securities Exchange Act of 1934, 15 U.S.C. 78j(b), and fraud affected a plan of corporate reorganization which led to the sale of Peoria's assets to the...

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