Franklin Life Insurance v. Commonwealth Edison Co.

MEMORANDUM ORDER

J. WALDO ACKERMAN, District Judge.

This action arises out of the issuance and subsequent redemption of one million shares of 9.44% Cumulative Prior Preferred Stock at a par value of $100 per share, by defendant Commonwealth Edison Company. Trial on the issue of liability has been had before the Court sitting without a jury and the points presented have been ably briefed and argued by the parties. This Memorandum Order shall incorporate within its text the Court’s findings of fact and conclusions of law, pursuant to F.R.Civ.P. 52(a).

Plaintiff, Franklin Life Insurance Company,…