Tyler v. Gibbons

Plaintiffs Richard and Tad Tyler filed a complaint against the former officers and directors of Ty-Walk Agricultural, Inc. (Ty-Walk), alleging that defendants mismanaged corporate assets and breached their fiduciary duty to the shareholders to exercise reasonable care in the conduct of the business of Ty-Walk. The trial court granted defendants’ motion to dismiss based on the doctrines of res judicata and Moorman. We affirm.

Ty-Walk was a Delaware corporation with its primary place of business in Minooka, Illinois. Ty-Walk’s business was to “manufacture, distribute, apply liquid fertilizer and…