SUPERIOR INV. & DEV. CORP., INC. v. DEVINE

No. 1-91-0611.

614 N.E.2d 302 (1993)

244 Ill. App.3d 759

185 Ill.Dec. 168

SUPERIOR INVESTMENT AND DEVELOPMENT CORPORATION, INC., an Illinois corporation, Bernard Katz and Benjamin Weiss, Plaintiffs-Appellants, v. James D. DEVINE and John E. Gross, Defendants-Appellees.

Appellate Court of Illinois, First District, Third Division.

March 31, 1993.


Attorney(s) appearing for the Case

Grippo & Elden, Chicago (Philip C. Stahl, Eric D. Brandfonbrener, of counsel), for plaintiffs-appellants.

Feiwell & Galper, Ltd., Chicago (Daniel C. Meenan, Jr., of counsel), for defendants-appellees.


Presiding Justice TULLY delivered the opinion of the court:

This case involves the interpretation of a shareholder agreement between plaintiffs, Bernard Katz and Benjamin Weiss, and defendants, James Devine and John Gross. Plaintiffs and defendants were joint owners in a real estate syndication and investment company. Devine and Gross subsequently resigned from the company to form a competing business, triggering a stock purchase agreement, wherein plaintiffs exercised...

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