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CORONET INS. CO. v. SEYFARTH

No. 86 C 1935.

665 F.Supp. 661 (1987)

CORONET INSURANCE COMPANY, an Illinois insurance company, Plaintiff, v. Henry E. SEYFARTH, Robert E. Field, Fred W. Mansfield, and Vincent C. Yager, as Directors of Great Lakes Financial Resources, Inc.; Vincent C. Yager, Robert E. Field, Edward K. Aldworth, and Fred W. Mansfield, as Administrators of First National Bank of Blue Island Employees Stock Ownership Plan; Seyfarth, Shaw, Fairweather & Geraldson, an Illinois partnership, including professional corporations; First National Bank of Blue Island Employees Stock Ownership Plan; Great Lakes Financial Resources, Inc., a Delaware corporation, and Harris Trust & Savings Bank, an Illinois banking corporation, Defendants.

United States District Court, N.D. Illinois, E.D.

July 16, 1987.

Attorney(s) appearing for the Case

Nathan H. Dardick, Morton Denlow, Carolyn J. Gallagher, Dardick & Denlow, Chicago, Ill., for plaintiff.

Michael W. Coffield, Kevin M. Flynn, Steven J. Roeder, Coffield Ungaretti Harris & Slavin, Chicago, Ill., for defendant Great Lakes Financial Resources, Inc.

J. Samuel Tenenbaum, David J. Eckert, Becker & Tenenbaum, Chicago, Ill., for defendant First Nat. Bank of Blue Island Employee Stock Ownership Plan.

Frank J. Dolan, Frank J. Dolan and Associates, Chicago, Ill., for defendants Henry E. Seyfarth, Robert E. Field, Fred W. Mansfield, Vincent C. Yager, and Edward K. Aldworth.

Francis D. Morrissey, Thomas F. Bridgman, Thomas A. Doyle, Baker & McKenzie, Chicago, Ill., for defendant Seyfarth, Shaw, Fairweather & Geraldson.

Ann Acker, Rick D. Bailey, John Weiss, Chapman & Cutler, Chicago, Ill., for defendant Harris Trust & Savings Bank.

MEMORANDUM OPINION AND ORDER

NORDBERG, District Judge.

Plaintiff Coronet Insurance Company ("Coronet") brings this action for declaratory and injunctive relief, recission and damages alleging that defendants have acquired a controlling interest in defendant Great Lakes Financial Resources, Inc. ("Great Lakes"), a multibank holding company, in violation of Section 10(b) of the Securities Exchange Act of 1934 ("Exchange Act"), 15 U.S.C. § 78j(b), Securities...

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