Vedder Price Shareholder Chad Schiefelbein was recently quoted in the article “Tossing of fraud claims in ownership interest sale affirmed” published by the Chicago Daily Law Bulletin.
The article discusses an appellate court decision that affirmed the dismissal of a counterclaim involving fraud in the sale of a membership interest. The court ruled that the Walworth decision applied in this case, finding no fiduciary duty was owed by Maestro International Cargo during its sale to Orange Pelican LLC.
Chad, a member of the firm’s Litigation Practice Group, offered his insight on the ruling of the case, noting that Vedder’s client, Maestro International Cargo, were satisfied with the results of the case.
Original source can be found here.