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CONT. ASSUR. CO. v. COM. EDISON CO.

No. 1-88-1502.

194 Ill. App.3d 1085 (1990)

551 N.E.2d 1054

CONTINENTAL ASSURANCE COMPANY et al., Plaintiffs-Appellants, v. COMMONWEALTH EDISON COMPANY, Defendant-Appellee.

Appellate Court of Illinois — First District (5th Division).

Opinion filed March 2, 1990.

Attorney(s) appearing for the Case

Stanley J. Adelman and William M. McErlean, both of Rudnick & Wolfe, of Chicago, and Brackett B. Denniston III and Michael J. Tuteur, both of Goodwin, Procter & Hoar, of Boston, Massachusetts, for appellants United Services Automobile Association and USAA Casualty Insurance Company.

James E. Spiotto, Ann Acker, and Donna Ross Daniels, all of Chapman & Cutler, of Chicago, for appellants Continental Assurance Company and Continental Casualty Company.

Altheimer & Gray, of Chicago (Theodore J. Low and Brian C. Witter, of counsel), for appellee.

Affirmed in part, and reversed in part and remanded.

JUSTICE LORENZ delivered the opinion of the court:

Continental Assurance Company, Continental Casualty Company, McDonnell Douglas Finance Corporation, United Services Automobile Association, and USAA Casualty Insurance Company (shareholders) appeal from the dismissal of their complaint challenging Commonwealth Edison Company's redemption of a stock issuance.

We reverse in part and affirm in part...

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