Daniel Nickell filed a lawsuit against the officers and directors of Engineer Support. He claimed it had improperly diverted financial benefits by backdating stock options, which decreased the value of the corporation for its shareholders. Nickell was a shareholder of Engineer Support Systems Inc. (ESSI). ESSI merged with DRS Technologies…
The Illinois Appellate Court has affirmed in part and reversed in part a case dealing with an insurer’s duty to defend an insured. In this case, Hilco, an Illinois corporation, had four related companies. They are Hilco Trading, and its three majority-owned subsidiaries, Hilco Appraisal, Hilco Valuation and Hilco Financial…
TABFG is a limited liability corporation. It brought a lawsuit against Richard Pfeil, claiming that among other things that Pfeil had tortuously interfered with a contract. After a bench trial, the district judge entered judgment in favor of TABFG in the amount of $957,659.68, comprised of a principal of…
This shareholder derivative lawsuit arose out of a long and unsuccessful effort by Baxter International Inc. to fix various problems with a medical device called Colleague Infusion Pump. The plaintiff in the case, Westmoreland County Employee Retirement System (Westmoreland) alleged that Baxter’s directors and officers breached their fiduciary duties by “consciously…