WISCONSIN CENT. LTD. v. U.S.

Nos. 16-3300, -3303, -3304.

856 F.3d 490 (2017)

WISCONSIN CENTRAL LTD., Illinois Central R.R. Co., and Grand Trunk Western R.R. Co., Plaintiffs-Appellants, v. UNITED STATES of America, Defendant-Appellee.

United States Court of Appeals, Seventh Circuit.

Decided May 8, 2017.


Attorney(s) appearing for the Case

William J. McKenna, Jr. , Attorney, Foley & Lardner LLP, Chicago, IL, Richard F. Riley, Jr. , Attorney, Foley & Lardner LLP, Washington, DC, for Wisconsin Central Limited.

Jonathan W. Garlough , William J. McKenna, Jr. , Attorneys, Foley & Lardner LLP, Chicago, IL, Richard F. Riley, Jr. , Attorney, Foley & Lardner LLP, Washington, DC, for Illinois Central Railroad Company and Grand Trunk Western Railroad Company.

Ellen P. DelSole , Noreene C. Stehlik , Francesca Ugolini , Attorneys, Department of Justice, Washington, DC, Prashant Kolluri , Attorney, Office of the United States Attorney, Chicago, IL, for Defendant-Appellee.

Maureen A. McGuire , Attorney, Anderson, Rasor & Partners, LLP, Chicago, IL, for Amicus Curiae Association of American Railroads.

Before Posner, Manion, and Hamilton, Circuit Judges.


Beginning in 1996, the plaintiff-appellants, subsidiaries of the Canadian National Railway Company (to simplify we'll refer to the subsidiaries as "the railway"), began including stock options in the compensation plans of a number of employees. In this suit against the government, the railway argues that income from the exercise...

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