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DLOOGATCH v. BRINCAT

Nos. 1-08-0168, 1-08-0281.

920 N.E.2d 1161 (2009)

Michael DLOOGATCH, David Birnbaum, Herbert Lederer, and Victor R. Fernitz, on Behalf of Themselves and All Others Similarly Situated, Plaintiffs-Appellants, v. John N. BRINCAT, John N. Brincat, Jr., James A. Doyle, William C. Croft, Mercury Finance Company, and KPMG Peat Marwick, L.L.P., Defendants-Appellees (Terra Foundation For The Arts, Intervening Class Member and Separate Appellant).

Appellate Court of Illinois, First District, Third Division.

December 16, 2009.

Attorney(s) appearing for the Case

Bellows and Bellows, P.C., of Chicago (Joel J. Bellows and Christopher L. Gallinari, of counsel), for Appellant Terra Foundation.

William J. Harte, Ltd., of Chicago (William J. Harte and Dana M. Pesha, of counsel); Lawrence Walner & Assoc., Ltd., of Chicago (Lawrence Walner and Michael S. Hilicki, of counsel); Prickett, Jones & Elliot, of Wilmington, DE (Ronald A. Brown, of counsel); Weltman Law Firm, of Chicago (Stewart M. Weltman, of counsel); and Futterman, Howard, Watkins, Wylie & Ashley Chtd., of Chicago (Charles Watkins, of counsel), for Appellants.

Sidley Austin LLP, of Chicago (Linton J. Childs, Hille R. Sheppard and Ian M. Ross, of counsel), for Appellee.

Justice COLEMAN delivered the opinion of the court:

Plaintiffs, a class of individual investors, appeal from an order of the circuit court of Cook County granting defendant KPMG's motion to dismiss pursuant to section 2-615 of the Illinois Code of Civil Procedure (735 ILCS 5/2-615 (West 2006)) for failing to state a claim upon which relief may be granted. This appeal was consolidated with the separately filed appeal by Terra Foundation for the Arts (Terra), a purported...

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