Patrick J. Halperin v. Thomas C. Halperin

POSNER, Circuit Judge.

This is a diversity suit for fraud (the governing substantive law being that of Illinois) arising out of a falling-out between two brothers, Patrick and Thomas Halperin. Each owned one-third of the common stock of Commercial Light Company. A third brother, Daniel, owned the other third; he is not a party to the suit.

Commercial Light was a substantial family-owned electrical contractor, founded by the brothers’ grandfather, that has installed major lighting systems in Chicago, such as the lighting systems of the John Hancock Center and Wrigley Field. The company still…