Financial Institution Fiduciary Trust Litigation
Represented a suburban Chicago bank serving as a trustee of a deceased customer’s trust established for the benefit of his widow and children. The beneficiaries sued the bank for imprudently selling the trust’s significant common stock holdings in a “Fortune 500” public company without the consent of the widow, who was a co-trustee. By the time of trial, the stock had more than quintupled in value, and the case threatened to undo a pending sale of the bank. After a two-week bench trial, the court ruled in the client’s favor on all counts.