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GRADEL v. CAPITAL

No. 06-4041.

495 F.3d 729 (2007)

Theodore F. GRADEL, et al., Plaintiffs-Appellants, v. PIRANHA CAPITAL, L.P., et al., Defendants, and Robb Evans & Associates, L.L.C., Intervenor-Appellee.

United States Court of Appeals, Seventh Circuit.

Decided July 25, 2007.

Rehearing and Suggestion for Rehearing Denied September 13, 2007.

Attorney(s) appearing for the Case

Robert B. Christie (submitted), Henderson & Lyman, Chicago, IL, for Plaintiffs-Appellants.

Peter E. Cooper, Lawrence, Kamin, Saunders & Uhlenhop, Chicago, IL, for Intervenor-Appellee.

Before EASTERBROOK, Chief Judge, and POSNER and WOOD, Circuit Judges.

Rehearing and Suggestion for Rehearing En Banc Denied September 13, 2007.*

POSNER, Circuit Judge.

This appeal presents an issue concerning the control of property in parallel proceedings. Investors in a hedge fund called Piranha Capital sued Piranha in an Illinois state court, claiming violations of federal securities law as well as state law. By serving the summons on another company, Pershing LLC, the plaintiffs automatically...

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