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TYLER v. GIBBONS

No. 3-05-0754.

857 N.E.2d 885 (2006)

Tad TYLER and Richard Tyler, Plaintiffs-Appellants, v. John GIBBONS, Joel Anderson, Kathleen Lestina, Robert Walker, Tom Harvey, Bruce Jasurda, Dan Walker, Roe Walker, Andrea Silverman, Clifton Gunderson L.L.P., Schrader Auctioneering Services, Inc., Defendants-Appellees.

Appellate Court of Illinois, Third District.

October 18, 2006.

Attorney(s) appearing for the Case

James M. McTighe (argued), Wunderlich Law Office, Ltd., Joliet, for Tad Tyler.

David L. Weinstein (argued), Theresa G. Van Vuren, Wildman, Harrold, Allen & Dixon LLP, Chicago, for Bruce Jasurda.

E. Kent Ayers, John M. Spesia (argued), Mark A. Lichtenwalter, Joliet, for Robert Walker.

John C. Roth, Naperville, James R. Clark, Foley & Lardner, LLP, Milwaukee, WI, for John Gibbons.

Justice LYTTON delivered the opinion of the court:

Plaintiffs Richard and Tad Tyler filed a complaint against the former officers and directors of Ty-Walk Agricultural, Inc. (Ty-Walk), alleging that defendants mismanaged corporate assets and breached their fiduciary duty to the shareholders to exercise reasonable care in the conduct of the business of Ty-Walk. The trial court granted defendants' motion to dismiss based...

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