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LID ASSOCIATES v. DOLAN

No. 1-00-0162.

756 N.E.2d 866 (2001)

324 Ill. App.3d 1047

258 Ill.Dec. 592

LID ASSOCIATES; Stanley Bresler; 2707-09 Peterson Building Partnership; Jane E. Benson; Edward F. Brennan, Jr.; Gershom R. Cohn Revocable Trust; Milton Diller as Trustee of the Milton Diller Revocable Trust; Larry Ensslin; Jack M. Fazio; Sylvia Federman and Ruth F. Silverstone as Co-Executors of the Estate of Hyman L. Federman; Stuart H. Glicken; Ellen B. Henrikson; Hi-Chicago Trust; Alan Holleb; Gordon Holleb; Paul D. Holleb; Investment Research Associates Ltd.; Joel A. Kaplan, MD; Carolyn J. Korein; Sandor Korein; Joel A. Kunin; L & S Investments; Madhic; Richard E. Marcus; Barbara Moelis; MRL Associates; Robert B. Pildes, MD; James V. Proesel; Herbert N. Rosen, DDS; Howard Ross; Roslyn Saltsberg; Irving and Hilda Solomon; Joe A. Walters; Joanne Woiteshek Revocable Trust; Gilbert Blechman Marital Trust B as Successor to Gilbert Blechman Revocable Trust; Daniel M. Pierce; Albert A. Robin; Bea Ritch Trust; The Holding Co.; Aardvark Trust; Korvision Investors Partnership; Suffolk Investors Partnership; Good News Boys; Hampshire Limited Partnership; Korvestors Limited Partnership; Park Limited Partnership; South Limited Partnership; Sylvestors Limited Partnership, Lafite Trust; Rudolph P. Regez; Martin S. Katz; Norman K. Jacobson; Rex Carr; Harold M. Danzig; Everett Avenue Associates; Robert E. Goldberg; L.I. Cable Venture; L.I.C. II Venture; Anthony Flakus; Bruce H. Johnson; James B. Leahy; Claib Lee Cook, Jr.; Jamm Associates; Associated Capital Corporation; Urban Communications; S-C Partnership; Iris Trust; Leonard Schiller; Philip J. Schiller; Praha Trust; Kromeriz Trust; Gottwaldov Trust; Saturnia Trust; Anna Trust; Hyman Trust; Albert Morris Trust; Luba Trust; Jerusalem Trust; Tel Aviv Trust; Israel Trust; Rhoann Trust; Marthe Trust; Marel Trust; Carrie Trust; Timothy Trust; Lynne Trust; Eileen Trust and Kevin Trust individually and derivatively on behalf of Cablevision of Chicago, Cablevision of Illinois, Chicago Cablevision Investments, and Cablevision Headquarters Investments, Plaintiffs-Appellees and Cross-Appellants, v. Charles F. DOLAN and Cablevision Systems Services Corporation, Defendants-Appellants and Cross-Appellees.

Appellate Court of Illinois, First District, Fourth Division.

August 30, 2001.

Attorney(s) appearing for the Case

Jenner & Block, Chicago (Theodore Tetzlaff, Thomas Mulroy, Jr., Richard Gray, Richard Steinken and William Ryan, of counsel), for Appellants.

Canel, Davis & King, Chicago (Jay Canel and Peter King, of counsel), for Appellees.

Presiding Justice HARTMAN delivered the opinion of the court:

Plaintiffs, limited partner investors in Cablevision of Chicago (Partnership), brought an action individually and derivatively on behalf of the Partnership against defendants, general partners Charles F. Dolan and Cablevision Systems Services Corporation (CSSC), for breach of fiduciary duty involving three financing transactions. Plaintiffs claim the transactions unfairly benefitted the general partners...

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