Ethanol Plant Execs Say Seyfarth Shaw Steered Shaky Buyout

Law360 (June 29, 2020, 8:02 PM EDT) -- Seyfarth Shaw LLP has been hit with a malpractice claim seeking to hold it liable for underlying claims that several Illinois ethanol plant executives bought out the plant's minority shareholders at too low a price through an unfair process.

Illinois River Energy Holdings LLC's executives claimed in a June 25 complaint in Cook County Circuit Court that Seyfarth Shaw should be found liable for any failures the judge in the underlying suit identifies in connection to the cash-out merger at issue in the minority shareholders' underlying class action. They say the plant's management board went through with the allegedly unfair cash-out merger according...

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