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TRECO, INC. v. LAND OF LINCOLN SAV.

Nos. 83-2704, 83-3062.

749 F.2d 374 (1984)

TRECO, INC. and Wisconsin Real Estate Investment Trust, Plaintiffs-Appellees, Cross-Appellants, v. LAND OF LINCOLN SAVINGS AND LOAN, Defendant-Appellant, Cross-Appellee.

United States Court of Appeals, Seventh Circuit.

Decided July 26, 1984.

Concurring Opinion November 14, 1984.

Attorney(s) appearing for the Case

Donald R. Harris, Jenner & Block, Chicago, Ill., for plaintiffs-appellees, cross-appellants.

Sherwin J. Markman, Hogan & Hartson, Washington, D.C., for defendant-appellant, cross-appellee.

Before CUMMINGS, Chief Judge, BAUER, Circuit Judge, and FAIRCHILD, Senior Circuit Judge.

CUMMINGS, Chief Judge.

On June 24, 1983, plaintiffs purchased approximately ten percent of the outstanding shares of Land of Lincoln Savings and Loan (Lincoln), an association chartered under Illinois law and regulated by the Federal Home Loan Bank Board and the Illinois Commissioner of Savings and Loan Associations. Six days later, on June 30, 1983, two amendments to Lincoln's bylaws became effective.1 The amendment to bylaw Article XI...

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