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CORNIELSEN v. INFINIUM CAPITAL MANAGEMENT, LLC

No. 17-2583.

916 F.3d 589 (2019)

Kurt V. CORNIELSEN, et al., Plaintiffs-Appellants, v. INFINIUM CAPITAL MANAGEMENT, LLC, et al., Defendants-Appellees.

United States Court of Appeals, Seventh Circuit.

Decided February 13, 2019.

Attorney(s) appearing for the Case

Daniel J. Voelker , Attorney, Olga S. Dmytriyeva , Attorney, Voelker Litigation Group, Chicago, IL, for Plaintiffs-Appellants.

J. Matthew W. Haws , Attorney, Patrick M. Smith , Attorney, Katten Muchin Rosenman LLP, Chicago, IL, for Defendants-Appellees Infinium Capital Management, LLC, a Delaware limited liability company, Infinium Capital Holdings, LLC, a Delaware limited liability company.

Martin B. Carroll , Attorney, Erik J. Ives , Attorney, Fox, Swibel, Levin & Carroll, LLP, Chicago, IL, for Defendant-Appellee Charles F. Whitman.

Adam L. Marchuk , Attorney, Jose A. Lopez, Jr. , Attorney, Perkins Coie LLP, Chicago, IL, for Defendants-Appellees Gregory Eickbush, Brian Johnson.

Before Sykes and Barrett, Circuit Judges, and Griesbach, Chief District Judge.

Plaintiffs-appellants, 39 former employees of Infinium Capital Management, LLC, voluntarily converted loans they had made to their employer under the company's Employee Capital Pool program into equity in the company. A year later their redemption rights were suspended, and six months after that, they were told their investments...

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