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IN RE FIRST CHICAGO CORP. SECURITIES LITIGATION

No. 90 C 1899.

769 F.Supp. 1444 (1991)

In re FIRST CHICAGO CORPORATION SECURITIES LITIGATION. KUNZE, et al., Plaintiffs, v. FIRST CHICAGO CORPORATION, First National Bank of Chicago, Barry F. Sullivan, Richard L. Thomas, and William J. McDonough, Defendants.

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

May 1, 1991.

Attorney(s) appearing for the Case

Robert M. Kornreich, Wolf, Popper, Ross, Wolf & Jones, New York City, Richard S. Schiffrin, Michael David Craig, Schiffrin & Craig, Chicago, Ill., for plaintiffs.

Lynn Adrian Goldstein, John Charles Simons, First Nat. Bank of Chicago, Charles William Douglas, Walter C. Carlson, David Robert Stewert, Sidley & Austin, Chicago, Ill., for defendants.

MEMORANDUM AND ORDER

MORAN, Chief Judge.

Economic developments of the last several years have taken their toll on many segments of society. On March 29, 1990, The First Chicago Corporation ("First Chicago") announced that it too was suffering from economic woes: net income was down 45 percent, provisions for loan losses had been increased, and nonperforming loans were up. Contrasting this performance with earlier reports of conservative loaning practices...

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