Legal Opinion
Teamsters Local 282 Pension Trust Fund v. Anthony G. Angelos
Court of Appeals for the Seventh Circuit
Decided May 13, 1985No. 84-2141PublishedCited by 177 opinions
1Opinion of the Court
EASTERBROOK, Circuit Judge.
The principal question in this case is whether a trustee’s imprudent failure to investigate before investing relieves the other party of liability for securities fraud. We hold that it does not.
In early 1979 the trustees of Teamsters Local 282 Pension Trust Fund (the Fund) loaned $2,000,000 to the Des Plaines Ban-corporation, Inc., a bank holding company (the Borrower). In March 1981 federal and state regulatory officials closed Des Plaines Bank (the Bank), a wholly-owned subsidiary of the Borrower and its principal asset. The Fund was left with an uncollectable…
2Cases cited38 opinions
- Parklane Hosiery Co. v. ShoreSupreme Court of the United States · 1979
- Ernst & Ernst v. HochfelderSupreme Court of the United States · 1976
- Association of Data Processing Service Organizations, Inc. v. CampSupreme Court of the United States · 1970
- Dean Witter Reynolds Inc. v. ByrdSupreme Court of the United States · 1985
- TSC Industries, Inc. v. Northway, Inc.Supreme Court of the United States · 1976
33 more not listed; retrieve them via the Exa API.
3Cited by177 opinions
- George Semerenko v. Cendant Corp. Walter A. Forbes E. Kirk Shelton Cosmo Corigliano Christopher K. McLeod Ernst & Young LLP George Semerenko, Individually and on Behalf of All Others Similarly Situated, P. Schoenfeld Asset Management Llc, on Behalf of Itself and All Others Similarly Situated v. Cendant Corp. Walter A. Forbes E. Kirk Shelton Cosmo Corigliano Christopher K. McLeod Ernst & Young LLPCourt of Appeals for the Third Circuit · 2000
- In the Matter of John E. Mayer and Deborah Mayer, Debtors-Appellants v. Spanel International Ltd. And Bank One-Rockford, N.A., Creditors-AppelleesCourt of Appeals for the Seventh Circuit · 1995
- Bernard A. Schlifke and Harvey Kallick, D/B/A K & S Investments Co., a Partnership v. Seafirst Corp. And Seattle-First National BankCourt of Appeals for the First Circuit · 1989
- Market Street Associates Limited Partnership and William Orenstein v. Dale FreyCourt of Appeals for the Seventh Circuit · 1991
- Robert Eckstein v. Balcor Film InvestorsCourt of Appeals for the Seventh Circuit · 1993
172 more not listed; retrieve them via the Exa API.