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LIPMAN v. BATTERSON

No. 1-99-3587.

738 N.E.2d 623 (2000)

316 Ill.App.3d 1211

250 Ill.Dec. 407

Jerome H. LIPMAN, Jerome H. Lipman, I.R.A. and Gerald A. Becker, individually and on behalf of all others similarly situated, Plaintiffs-Appellants, v. Leonard A. BATTERSON, Michael J. Friduss, Peter S, Fuss, Edward W. Laves, Steven Lazarus, Tom L. Powers, Ora E. Smith, Paul G. Yovovich, and Illinois Superconductor Corporation, Defendants-Appellees.

Appellate Court of Illinois, First District, Sixth Division.

Rehearing Denied October 23, 2000.

Attorney(s) appearing for the Case

Storm & Gottesman, Chicago (Timothy J. Storm, of counsel), for Appellant.

Wildman Harrold Allen & Dixon, Chicago (Michael Dockterman, David L. Weinstein, Leland H. Chait, of counsel), for Appellee.

Justice SHEILA M. O'BRIEN delivered the opinion of the court:

Plaintiffs, three shareholders of Illinois Superconductor Corporation (ISC), appeal the circuit court's order dismissing their third-amended class action complaint against defendants, ISC and members of ISC's board of directors, for failure to state a cause of action. On appeal, plaintiffs argue that the circuit court erred in determining that plaintiffs should...

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