DeLeo v. Swirsky
United States District Court for the Northern District of Illinois
2002 WL 989526 (2002)
- Written by Mary Phelan D'Isa, JD
Facts
Neal DeLeo (plaintiff) and his attorney, Bruce Golden, represented the interests of the shareholders of Easy Access International, Inc. (EAI) in an Illinois shareholder derivative lawsuit against Swirsky (defendant), a director of EAI, and others for fraud involving Zconnexx Corporation, a wholly owned subsidiary of EAI. DeLeo and Internet Yellow Pages Network, Inc., (Internet Yellow), a corporation half-owned by DeLeo, filed a second lawsuit against Swirsky and others in New York to hold them personally liable for Zconnexx’s fraud and theft of Internet Yellow’s property. The New York action was stayed, pending the bankruptcy of Zconnexx and another defendant. In the Illinois shareholder derivative suit, Swirsky filed a motion to have DeLeo and Swirsky disqualified as the plaintiffs’ class representative and counsel. DeLeo and Golden opposed the motion and argued that Swirsky lacked standing to seek their disqualification.
Rule of Law
Issue
Holding and Reasoning (Ashman, J.)
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