CRAIG v. ONTARIO CORP.

Nos. 06-4409, 08-1013.

543 F.3d 872 (2008)

Charles A. CRAIG and Barbara J. Craig, Plaintiffs-Appellees, v. ONTARIO CORPORATION, Defendant-Appellant.

United States Court of Appeals, Seventh Circuit.

Decided September 10, 2008.


Attorney(s) appearing for the Case

Mark J.R. Merkle (argued), Krieg Devault, Indianapolis, IN, for Plaintiffs-Appellees.

R.C. Richmond, III (argued), Taft Stettinius & Hollister LLP, Indianapolis, IN, for Defendant-Appellant.

Before BAUER, POSNER, and WOOD, Circuit Judges.


WOOD, Circuit Judge.

Charles Craig worked for Ontario Corporation and participated in its employee stock option plan. Under the plan, he was entitled to transfer some of the shares of the stock he acquired to his wife Barbara, and he did so. The plan also provided for a bonus distribution of stock shares upon the participant's retirement. When Craig retired in 2001, he offered to sell his shares back to Ontario. Ontario accepted, but it paid with three promissory...

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