SWANSON v. AMERICAN CONSUMER INDUSTRIES, INC.

Nos. 74-1430, 74-1434.

517 F.2d 555 (1975)

Knute SWANSON, on behalf of Peoria Service Company, and on behalf of all shareholders of Peoria Service Company similarly situated, Plaintiff-Appellant, v. AMERICAN CONSUMER INDUSTRIES, INC., a New Jersey Corporation, et al., Defendants-Appellees.

United States Court of Appeals, Seventh Circuit.

Decided May 29, 1975.


Attorney(s) appearing for the Case

Richard Orlikoff, John N. Tierney, Chicago, Ill., Thomas V. Cassidy, Peoria. Ill., Arthur T. Susman, Chicago, Ill., for plaintiff-appellant.

Frank O. Wetmore II, Chicago, Ill., for defendants-appellees.

Before PELL and TONE, and JAMESON,


TONE, Circuit Judge.

In this derivative and class action, the minority shareholders of Peoria Service Company (Peoria) have sought rescission of sale of the corporate assets and damages. On the only issue properly before the court on this third appeal, the measure of attorneys' fees to be paid to plaintiffs' attorneys, we reverse the order of the District Court which allowed fees of $21,336.00, holding that amount inadequate in the circumstances of this case...

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