KAGAN v. EDISON BROS. STORES, INC.

No. 89-3458.

907 F.2d 690 (1990)

Marvin KAGAN, et al., Plaintiffs-Appellants, v. EDISON BROTHERS STORES, INC. and Edison Brothers Apparel Stores, Inc., Defendants-Appellees.

United States Court of Appeals, Seventh Circuit.

Decided July 18, 1990.


Attorney(s) appearing for the Case

Stephen C. Shamberg, Chicago, Ill., for plaintiffs-appellants.

Fred H. Bartlit, Jr., Ann M. Hamilton, Chaim T. Kiffel, Kirkland & Ellis, Chicago, Ill., for defendants-appellees.

Before CUDAHY and EASTERBROOK, Circuit Judges, and FAIRCHILD, Senior Circuit Judge.


EASTERBROOK, Circuit Judge.

The stockholders and debenture holders of Ringo, Inc., a closely held corporation that operated two apparel stores in Chicago, entered into negotiations with Edison Brothers Stores, Inc., for the sale of their shares (and derivatively of Ringo itself). Edison Brothers balked at signing a contract, and the deal collapsed. In the meantime, believing that Edison wanted Ringo to expand, Ringo had signed a lease for a third store, taking expensive...

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