MANN v. KEMPER FINANCIAL COMPANIES, INC.

No. 1-90-0282.

618 N.E.2d 317 (1992)

247 Ill. App.3d 966

187 Ill.Dec. 726

Steven D. MANN and Kenneth L. Cunniff, individually and on behalf of a class of similarly situated persons, Plaintiffs-Appellants, v. KEMPER FINANCIAL COMPANIES, INC., Kemper Financial Services, Inc., and Thomas A. Richards, Defendants-Appellees.

Appellate Court of Illinois, First District, Third Division.

Rehearing Denied July 21, 1993.


Attorney(s) appearing for the Case

Richard J. Prendergast, Richard J. Prendergast, Ltd., Thomas J. Moore, Jane F. Anderson, McCarthy, Duffy, Neidhart & Snakard, Kevin M. Forde, Katrina Veerhusen, Kevin M. Forde, Ltd., James J. Moylan, James J. Moylan & Associates, Chicago, for plaintiffs-appellants.

Joan M. Hall, J. Kevin McCall, Sidney I. Schenkier, Douglas A. Graham, Jenner & Block, Chicago, for defendants-appellees Kemper Financial Companies, Inc., and Kemper Financial Services, Inc.


Justice CERDA delivered the opinion of the court:

Plaintiffs, Steven D. Mann and Kenneth L. Cunniff, individually and on behalf of a class of similarly situated persons, appeal from the dismissal of their consolidated first amended class action complaint alleging fraud in connection with the management of plaintiffs' mutual fund investments. Plaintiffs argue on appeal that they had standing to sue directly for their injuries and that they did not have to bring a shareholder...

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