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POWELL v. GANT

No. 4-89-0820.

199 Ill. App.3d 259 (1990)

556 N.E.2d 1241

LEWIS POWELL, Indiv. and as Member of Menard Electric Cooperative, et al., Plaintiffs-Appellants and Cross-Appellees, v. ROBERT E. GANT et al., Defendants-Appellees and Cross-Appellants (Royal B. Newman et al., Defendants; Western Illinois Electric Cooperative et al., Nominal Defendants).

Appellate Court of Illinois — Fourth District.

Rehearing denied August 3, 1990.

Attorney(s) appearing for the Case

Thomas F. Londrigan, of Londrigan, Potter & Randle, P.C., of Springfield, for appellants.

Monroe, Wilson, Dyar, Moss & Statzer, of Decatur (Thom Moss and Darrell E. Statzer, Jr., of counsel), for appellees Edward Williams et al.

Heyl, Royster, Voelker & Allen, of Peoria (Richard N. Molchan, Roy O. Gulley, Karen L. Kendall, and David L. Garner, of counsel), for appellees Robert E. Gant et al.

Order affirmed.

JUSTICE STEIGMANN delivered the opinion of the court:

In August 1987, plaintiffs, Lewis Powell et al., filed a two-count complaint against the present and former officers and directors of Soyland Power Cooperative, Inc. (Soyland), and Western Illinois Power Company (WIPCO), alleging breach of fiduciary duty. Count I of the complaint was designated as a double derivative action, while count II of the complaint was designated as a class...

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