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ASSET EXCHANGE II, LLC v. FIRST CHOICE BANK

No. 1-10-3718.

953 N.E.2d 446 (2011)

352 Ill. Dec. 207

ASSET EXCHANGE II, LLC, on Behalf of Themselves and All Those Similarly Situated, Plaintiff-Appellant, v. FIRST CHOICE BANK, Defendant-Appellee.

Appellate Court of Illinois, First District, Second Division.

Rehearing Denied August 18, 2011.

As Modified Upon Denial of Rehearing August 23, 2011.

Attorney(s) appearing for the Case

Steven A. Hart , Scott W. Henry , Anastasios T. Foukas , Segal McCambridge Singer & Mahoney, Ltd., Chicago, for Plaintiff-Appellant.

Scott L. Schmookler , Daniel R. Bryer , Clausen Miller P.C., Chicago, Rebecca S. Yocum , Bottaro, Morefield, Kubin & Yocum, L.C., Kansas City, MO, for Defendant-Appellee.

OPINION

Justice CONNORS delivered the judgment of the court, with opinion.

¶ 1 This appeal arises out of a putative class action filed by Asset Exchange II, LLC (plaintiff), against First Choice Bank (Bank), alleging that the Bank improperly charged plaintiff a higher interest rate than that which the parties had agreed upon when they signed a promissory note (Note). Plaintiff alleged seven causes of action against the Bank: (1) breach of contract,...

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