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NEIL v. ZELL

No. 08 C 6833.

767 F.Supp.2d 933 (2011)

Dan NEIL and Eric Bailey, individuals, on behalf of themselves and on behalf of all others similarly situated, Plaintiffs, v. Samuel ZELL; Greatbanc Trust Company, a Delaware corporation; EGITRB, L.L.C., a Delaware corporation, Defendants.

United States District Court, N.D. Illinois, Eastern Division.

February 28, 2011.

Attorney(s) appearing for the Case

Daniel M. Feinberg, Todd F. Jackson, Angelica Jongco, Nina Wasow, Lewis, Feinberg, Lee, Renaker & Jackson, PC, Oakland, CA, Joseph W. Cotchett, Cotchett, Pitre & McCarthy LLP, Burlingame, CA, Michael M. Mulder, Thomas R. Meites, Meites, Mulder & Glink, Chicago, IL, for Plaintiffs.

Craig Christopher Martin, David J. Bradford, Andrew William Vail, Barry Levenstam, Douglas Allen Sondgeroth, Jenner & Block LLP, Chicago, IL, Charles Clark Jackson, Deborah S. Davidson, Gregory P. Abrams, James E. Bayles, Jr., Julie Ann Govreau, Matthew Allen Russell, Theodore Michaelson Becker, Morgan Lewis & Bockius, LLP, Chicago, IL, for Defendants.

MEMORANDUM OPINION AND ORDER

REBECCA R. PALLMEYER, District Judge.

Defendant, GreatBanc, trustee of the Tribune Employee Stock Ownership Plan ("ESOP"), oversaw the ESOP's purchase of $250 million worth of Tribune Company stock as part of a complex leveraged going-private transaction on April 1, 2007. Tribune Company has now entered bankruptcy and the stock is worthless. The court has ruled on summary judgment that GreatBanc breached its fiduciary...

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