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RAYMAN v. PEOPLES SAV. CORP.

No. 89 C 4144.

735 F.Supp. 842 (1990)

Steven M. RAYMAN, Plaintiff, v. PEOPLES SAVINGS CORPORATION, et al., Defendants.

United States District Court, N.D. Illinois, E.D.

April 10, 1990.

Attorney(s) appearing for the Case

Theodore R. Tetzlaff, Kenneth A. Kroot, Benjamin L. Sells and Renata M. Sos, Jenner & Block, Chicago, Ill., for plaintiff (counter-defendant) Steven M. Rayman.

William T. Dwyer, Jr., Leonard S. Shifflett, Alexander Terras, Keith J. Shuttleworth, Gerard D. Ring, Burke, Wilson & McIlvaine, Chicago, Ill., for defendant (counter-plaintiff) James M. and Bridget M. Flanagan.

Michael B. Brohman and Samuel J. Betar, III, Kamensky & Rubinstein, Lincolnwood, Ill., for counter-defendant Thomas J. Mulcahy.

Thomas L. Browne and Ellen Zopff Todia, Chicago, Ill., for third-party defendants John D. Purdy, Jr. and Siemon, Larsen & Purdy.

MEMORANDUM OPINION AND ORDER

SHADUR, District Judge.

This action arises out of the sale by plaintiff Steven Rayman ("Rayman") of all the shares of stock (the "Shares") of Crest Savings ("Crest") to defendant Peoples Savings Corporation ("PSC"), immediately followed by PSC's transfer of the Shares to its wholly-owned subsidiary (and present codefendant) Peoples Bank for Savings ("PBS"). Two other codefendants, James Flanagan and his wife Bridget,

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