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SK HAND TOOL CORP. v. DRESSER INDUSTRIES

No. 1-94-3997.

672 N.E.2d 341 (1996)

284 Ill. App.3d 417

219 Ill.Dec. 833

SK HAND TOOL CORPORATION and Corcoran Partners, Ltd., Plaintiffs-Appellees, Cross-Appellants, v. DRESSER INDUSTRIES, INC., Defendant-Appellant, Cross-Appellee.

Appellate Court of Illinois, First District, First Division.

October 15, 1996.

Attorney(s) appearing for the Case

Bartlit Beck Herman Palenchar & Scott, Chicago (Philip S. Beck, Peter B. Bensinger, Jr., and Ellen A. Cirangle, of counsel), for defendant-appellant.

Pavalon & Gifford, Chicago (Frederick F. Brace, Jr., of counsel), for plaintiffs-appellees.

Presiding Justice CAMPBELL delivered the opinion of the court:

Plaintiffs SK Hand Tool Corporation ("SK") and Corcoran Partners Limited ("Partners") sued defendant Dresser Industries, Inc. ("Dresser") for fraud in connection with the Partners' purchase of Dresser's hand tool division. Following a trial in the circuit court of Cook County, the jury returned a verdict for plaintiffs in the amount of four million dollars in compensatory damages and 50 million dollars...

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