United States District Court, N.D. Illinois, E.D.https://leagle.com/images/logo.png
May 6, 1983.
May 6, 1983.
Attorney(s) appearing for the Case
Lowell E. Sachnoff, Dean A. Dickie, William Gleeson, Barry S. Rosen, Brian D. Roche, Sachnoff, Weaver & Rubenstein, Ltd., Chicago, Ill., Richard D. Greenfield, Nicholas E. Chimicles, Robert P. Frutkin, Marcy C. Panzer, Greenfield & Chimicles, P.C., Bala-Cynwyd, Pa., Lawrence H. Eiger, Michael J. Freed, Michael Hyman, Much, Shelist, Freed, Denenberg, Ament & Eiger, P.C., Myron M. Cherry, Robert Cushman, Jr., Bruce Rose, Cherry & Flynn, Chicago, Ill., James D. Fornari, William Jarblum, Jarblum & Solomon, P.C., Paul M. Bernstein, Edward A. Grossmann, Jeffrey Klafter, Kreindler & Kreindler, Barry J. Pinkowitz, Barry J. Pinkowitz, P.C., New York City, Lawrence Walner, Lawrence Walner, Ltd., Chicago, Ill., Daniel W. Krasner, Fred Taylor Isquith, William Loeb, Wolf, Haldenstein, Adler, Freeman & Herz, New York City, for plaintiffs.
Scott J. Davis, Mayer Brown & Platt, Chicago, Ill., for Continental Ill. Corp., Continental Bank, Anderson, Perkins and Miller.
William R. Jentes, Kirkland & Ellis, Chicago, Ill., for Malott and Luerssen.
Rene A. Torrado, Jr., Reuben & Proctor, Chicago, Ill., for Baker.
J. Alan Galbraith, Williams & Connelly, Washington, D.C., for Bergman.
Gary L. Prior, McDermott, Will & Emery, Chicago, Ill., for Hlavka.
Mitchell S. Rieger, Schiff, Hardin & Waite, Chicago, Ill., for Rastetter.
Richard Levy, Stephen Novack, Eric N. Macey, Mark A. Rabinowitz, Marilyn J. Klawiter, Levy & Erens, Chicago, Ill., for Harper.
Hedlund, Hunter & Lynch, Chicago, Ill., for Redding.
Francis J. McConnell, McConnell, Ruberry & Jansen, Chicago, Ill., for Lytle.
John J. Enright, Arvey, Hodes, Costello & Berman, Chicago, Ill., for Goy.
Thomas D. Allen, Sheldon P. Migdal, Donald Flayton, Wildman, Harrold, Allen & Dixon, Chicago, Ill., for Ernst & Whinney.
United States District Court, N.D. Illinois, E.D.
DECISION ON STANDARD TO BE USED IN RULING ON MOTION TO DISMISS DERIVATIVE CLAIMS
GRADY, District Judge.
Certain defendants have moved for dismissal of some of the derivative claims on the basis that a special committee appointed by the Board of Directors of Continental Illinois Corporation ("CIC") has determined that pursuit of these claims would not be in the best interest of the corporation. Awaiting resolution...
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