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Attorney Mark Malloy Obtains Dismissal of Fiduciary Duty Case in Northern District of Illinois

February 3, 2015

Attorney Mark Malloy successfully defended a breach of fiduciary duty claim in the United States District Court for the Northern District of Illinois. Malloy represented a national appraisal firm based in Milwaukee that was sued by an Illinois corporation for alleged breach of fiduciary duty. The case arose out of testimony offered by the client appraiser in an underlying lawsuit filed in Cook County among shareholders of the corporation. The testimony related to an independent valuation prepared by the appraiser for the company a few years before the underlying shareholder lawsuit was filed. The plaintiffs alleged that the testimony offered breached the appraiser’s fiduciary duty to the corporation, which they claimed arose out of a prior valuation conducted by the appraiser. The case was originally filed in Cook County, but Malloy and his team, associates Tim Nichols and Henry Weiner, removed the case to federal court. In federal court, they brought a motion to dismiss on multiple theories, including the position that all claims were barred by witness testimony immunity and that no fiduciary duty existed as a matter of law for the appraiser. The court granted the motion, dismissing all claims on the merits and with prejudice.

Malloy devotes a substantial portion of his practice to the defense of businesses in commercial litigation, and is available to assist clients and answer questions at mdm@mtfn.com and/or by telephone at 414-273-1300.