SUTTER v. GROEN

No. 81-2876.

687 F.2d 197 (1982)

Anthony A. SUTTER, Plaintiff-Appellant, v. E. B. GROEN and Naomi Groen, Defendants-Appellees.

United States Court of Appeals, Seventh Circuit.

Decided August 20, 1982.


Attorney(s) appearing for the Case

Richard L. Steagall, Nicoara & Steagall, Peoria, Ill., for plaintiff-appellant.

Franklin L. Renner, Bartley, Fraser, Parkhurst, Hession & Renner, Peoria, Ill., for defendants-appellees.

Before BAUER and POSNER, Circuit Judges, and LARSON, Senior District Judge.


POSNER, Circuit Judge.

The complaint in this federal securities case alleges that the plaintiff, Sutter, owns 70 percent of the common stock of Happy Radio, Inc., a corporation whose only significant asset (apart from the capital contributed by its shareholders) is an agreement with the defendants, Mr. and Mrs. Groen, the sole shareholders of Bret Broadcasting Corporation, to purchase all of the Groens' stock in Bret Broadcasting over a 12-year period, during which...

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