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TREGENZA v. LEHMAN BROTHERS, INC.

No. 1-95-1631.

678 N.E.2d 14 (1997)

287 Ill. App.3d 108

222 Ill.Dec. 607

W. Kenneth TREGENZA, on behalf of himself and a class of persons similarly situated, Plaintiff-Appellant, v. LEHMAN BROTHERS, INC., a Delaware corporation, Defendant-Appellee.

Appellate Court of Illinois, First District, Third Division.

Rehearing Denied April 2, 1997.

Attorney(s) appearing for the Case

Terrence Buehler and Robert E. Williams of Susman, Buehler & Watkins, Chicago, for Plaintiff-Appellant.

H. Nicholas Berberian, Robert J. Mandel, Terry D. Weissman and Tina E. Levin of Neal Gerber & Eisenberg, Chicago, for Defendant-Appellee.

Justice CAHILL delivered the opinion of the court:

We review a complaint alleging common law causes of action arising out of a securities transaction. The trial court found that the action was time barred by the three year statute of limitations in the Illinois Securities Law of 1953. 815 ILCS 5/13(D) (West 1992). Plaintiff argues that since his complaint does not rely on the securities law, the five year statute of limitations set out in section 13-205 of the Illinois...

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