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Legal Opinion

Board of Trustees of Community College District No. 508 v. Coopers & Lybrand

Illinois Supreme Court

Decided December 18, 2003No. 94676 RelPublished

1Opinion of the Court 1

Docket No. 94676–Agenda 10–May 2003.

THE BOARD OF TRUSTEES OF COMMUNITY COLLEGE DISTRICT No. 508, County of Cook, Appellee, v. COOPERS & LYBRAND, Appellant.

Opinion filed December 18, 2003.

2Opinion of the Court · KilbrideJustice Kilbride

The Board of Trustees of Community College District No. 508 (Board) sued the accounting firms of Coopers & Lybrand (Coopers) and Arthur Andersen (Andersen). The Board sought more than $50 million in compensatory damages, allegedly resulting from the failure of those firms to discover and report to the Board inappropriate investments made by Phillip R. Luhmann, the treasurer and chief financial officer of City…

Also in this document: Concurring in part, dissenting in part.

3Cases cited41 opinions

  1. Pedrick v. Peoria & Eastern RailroadIllinois Supreme Court · 1967
  2. Moorman Manufacturing Co. v. National Tank Co.Illinois Supreme Court · 1982
  3. Maple v. GustafsonIllinois Supreme Court · 1992
  4. Best v. Taylor MacHine WorksIllinois Supreme Court · 1997
  5. Alvis v. RibarIllinois Supreme Court · 1981

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