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WHIRLPOOL FINANCIAL CORP. v. GN HOLDINGS, INC.

No. 95-1292.

67 F.3d 605 (1995)

WHIRLPOOL FINANCIAL CORPORATION, Plaintiff-Appellant, v. GN HOLDINGS, INC., f/k/a CCHP Delaware, Inc., W.R. Grace & Company-Connecticut, Kevin Clark, Michelle Clark, Robert Bok, and Diane Bok, Defendants-Appellees.

United States Court of Appeals, Seventh Circuit.

Decided September 28, 1995.

Rehearing and Suggestions for Rehearing Denied October 31, 1995.

Attorney(s) appearing for the Case

Jonathan G. Bunge, John F. Young, Roy M. Van Cleave (argued), Keck, Mahin & Cate, Chicago, IL, for plaintiff-appellant Whirlpool Financial Corporation, a Delaware corporation.

Mark E. Ferguson (argued), Mark L. Levine, Bartlit, Beck, Herman, Palenchar & Scott, Chicago, IL, for defendants-appellees GN Holdings, Incorporated, a Delaware corporation fka CCHP Delaware, Incorporated, W.R. Grace & Company-Connecticut, a Connecticut corporation.

Matthew F. Kennelly, Cotsirilos, Stephenson, Tighe & Streicker, Chicago, IL, for defendants-appellees Kevin Clark, Michelle Clark, Robert Bok, Diane Bok.

Before ESCHBACH, KANNE, and ROVNER, Circuit Judges.

Rehearing and Suggestions for Rehearing In Banc Denied October 31, 1995.

KANNE, Circuit Judge.

Whirlpool Financial Corporation filed this securities action on July 11, 1994, against GN Holdings, Inc., W.R. Grace & Co.-Connecticut, Kevin and Michelle Clark, and Robert and Diane Bok seeking rescission of Whirlpool's $10 million loan to GN. In its complaint, Whirlpool alleged: (Count 1) violation of Section 10(b) of the Securities Exchange Act of 1934 and...

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