aiding and abetting breach of fiduciary duty illinois lottery

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The decision was made in July, but has only come to light after reports in the Greek media during the past week. However, Goalbet — one of 24 operators granted a opap sports betting license in that was later revoked — argued that OPAP had never been asked to meet the conditions necessary for a Greek online sports betting license, and their license was therefore void. The loss of the licence, whether temporary or permanent, is not expected to have a major impact on the operator's sports betting revenue, which remains dominated by OPAP's retail offering. For the six months to 30 Junesports betting revenue was down 5. An OPAP spokesperson emphasised that the decision affected only a very small part of the company's revenue. The spokesperson added that the operator's main online business was run through Stoiximan, the igaming business in which OPAP holds a majority stake.

Aiding and abetting breach of fiduciary duty illinois lottery nicobet betting odds

Aiding and abetting breach of fiduciary duty illinois lottery

Skip to main content. New Articles. Costigan and Joseph J. Cole-Johnson and Rachel V. Oehninger and Geoffrey B. Buckley-Norwood and Sarah R. Gross and Marc D. Teva Drug Sumner and Jesse A. Collins and Ryan H. Giger and Todd H. Pummill and Daniel R. Gillenwater and Phillip H. Hansen and Alan J. Becker and Claire H. Sachs and Brook J. Harbaugh and Daniel E. Betts and Beth E. Stevens and Corey N. Clark, Jr. Epstein and Angus C. Osborn and Joanne C. O'Brien and Brian M. Deming It's Official! Opper and Ryan J.

Conti U. Larvick and Daniel T. Beswick and Jeffrey W. Ellis and Raymond J. Bergeson and Carla N. Shatzkes and Ehiguina L. Fontana and Daniel H. Noce and Liisa M. Kendall and Julia E. Communication equipment capital leases. The Company has finance leases for certain communication equipment that expire between and The leases have terms of renewal, options to purchase the equipment and there are no escalation clauses. There are no restrictions placed upon the Company by entering into these leases.

Point of sale capital leases. The Company has finance leases for certain point of sale equipment that expire in Sale and Leaseback Transactions. Both the West Greenwich and Las Vegas facilities are accounted for as operating leases, and future minimum lease payments are included in the operating lease section in the table above. Jackpot Commitments. Jackpot liabilities are recorded as current and non-current liabilities as follows:.

Current liabilities. Non-current liabilities. Future jackpot payments due. Unamortized discounts. Total jackpot liabilities. Performance and other bonds. In connection with certain contracts and procurements, the Company has been required to deliver performance bonds for the benefit of customers and bid and litigation bonds for the benefit of potential customers, respectively.

Performance bonds. Litigation bonds. All other bonds. Guarantees and indemnifications. Penalties under Minimum Profit Contracts. The amounts guaranteed and therefore amounts owed by the Company as shortfall payments under the Illinois Contract were under dispute.

The Company will neither be responsible for the payment of any other shortfall payment, nor will it be entitled to receive any incentive compensation, for all or any portion of fiscal year , or any subsequent fiscal year. LGT is a joint venture that was formed to provide an online lottery system in Thailand. The Company is jointly and severally liable with the other shareholder in LGT for this guarantee.

Commonwealth of Pennsylvania indemnification. Legal Proceedings. Legal proceedings can be expensive and disruptive to normal business operations. The Company expenses legal fees as incurred. The Company records a provision for contingent losses when it is both probable that a liability will be incurred and the amount or range of the loss can be reasonably estimated. With respect to litigation and other legal proceedings where the Company has determined that a loss is reasonably possible and the Company is unable to estimate the amount or range of reasonably possible loss in excess of amounts already accrued, due to the inherent difficulty of predicting the outcome of and uncertainties regarding such litigation and legal proceedings, no additional amounts have been accrued.

Italian Tax Matters. If the Public Prosecutor determines that income was under-reported in one or more tax years, the Public Prosecutor may choose to bring criminal charges in Italy against any or all of the above referenced individuals.

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Defendants continued to represent the Slotkys in that litigation. Nearly three years passed before the plaintiff, individually and on behalf of BIG, filed a two-count complaint against defendants on July 2, Defendants then filed a motion for summary judgment on the basis that the two year statute of limitations barred plaintiff's claim.

Defendants argued that plaintiff was on "inquiry notice" of his injury and its cause on July 7, , the date he filed the underlying lawsuit against the Slotkys, but he did not file his complaint against defendants until almost three years later. Plaintiff responded that he could not have been on inquiry notice based on a suspicion that defendants had aided and abetted the Slotkys in breaching their fiduciary duties.

He further asserted that the limitations period did not begin until , because he did not learn of defendants' substantial assistance in the Slotkys' breaches of their fiduciary duties until the defendants, on behalf of the Slotkys, produced hundreds of pages of documents in late in response to discovery requests and until the Slotkys sat for depositions in October After argument, however, the trial court granted defendants' summary judgment motion.

Plaintiff appealed. Plaintiff argued the trial court erred in granting summary judgment because although he suspected defendants of wrongdoing, a reasonable jury could conclude he did not know of their wrongdoing until after uncovering it through discovery in the underlying lawsuit, and that he acted diligently in discovering the wrongdoing, particularly in light of defendants' refusal to turn over documents by claiming attorney-client privilege.

The appellate court initially noted that Section 13— The court also noted that knowledge that an injury has been wrongfully caused "does not mean knowledge of a specific defendant's negligent conduct or knowledge of the existence of a cause of action. Plaintiff argued that he only suspected that defendants may have contributed to his injury by aiding and abetting the Slotkys in breaching their fiduciary duties, and he did not know for certain their role in aiding and abetting the Slotkys until late or early , after engaging in discovery in the underlying lawsuit.

The court rejected plaintiff's argument because plaintiff believed no later than July 7, when he filed suit against the Slotskys , and likely sooner, that the Slotkys breached their fiduciary duties and any injury he suffered directly resulted from the breach of fiduciary duties. In a letter to the Slotkys dated June 19, , plaintiff's attorney stated that if they did not compensate plaintiff for the "the harm you wrought" he would file a lawsuit by July 7.

This letter shows that plaintiff knew no later than June 19 that he had been wrongfully injured. Plaintiff next argued that even though he knew he had been injured by the Slotkys' breach of their fiduciary duties in July , the role defendants played in the Slotkys' breaches did not manifest itself until the Slotkys complied with his discovery requests in late and sat for depositions in Plaintiff asserted that because this second potential cause of his injury remained unknown until, at the earliest, late , he timely filed his aiding and abetting complaint.

The court disagreed. First, plaintiff's claim that defendants aided and abetted the Slotkys' breach of their fiduciary duties was not "unknowable. Plaintiff also knew that defendants continued to act as the Slotkys' attorney after plaintiff's employment ended, and he filed his lawsuit against the Slotkys. More importantly, the court emphasized that knowledge that an injury has been wrongfully caused "does not mean knowledge of a specific defendant's negligent conduct or knowledge of the existence of a cause of action.

The court held that plaintiff's claims against his partners for fraud could not be separated from a claim that defendants failed to protect him from that very same fraud. See also Blue Water Partners, Inc. Mason , IL App 1st ; Carlson v. Fish , IL App 1st In derivative action, damages can include:. Likewise, they may not use their positions for their own personal gain.

Shareholders may therefore recover the value of their stock if the directors converted stock that has an ascertainable value. Complete forfeiture of any salary paid by the corporation to its fiduciary during the time in which their duties were being breached is also a valid form of damages: all such salaries must be disgorged back to the company.

Finally, Illinois Courts regularly hold that punitive damages are an appropriate form of damages when shareholders are able to establish claims for breach of fiduciary duty and usurpation of corporate opportunity. This is especially true when the actions of the defendants are underhanded and deceitful. In a landmark Illinois case on the subject, a shareholder brought an action against the directors of a company who had formed a new entity.

The action was for breach of fiduciary duty and usurpation of corporate opportunity. The Plaintiff and two partners founded a company to serve as sales reps for electronics manufacturers. After they fired the Plaintiff, the Defendants decided that the corporation was interested in representing computer hardware manufacturers.

NIEDERBETTINGEN UNFALLWAGEN

Gross and Marc D. Teva Drug Sumner and Jesse A. Collins and Ryan H. Giger and Todd H. Pummill and Daniel R. Gillenwater and Phillip H. Hansen and Alan J. Becker and Claire H. Sachs and Brook J. Harbaugh and Daniel E. Betts and Beth E. Stevens and Corey N. Clark, Jr. Epstein and Angus C.

Osborn and Joanne C. O'Brien and Brian M. Deming It's Official! Opper and Ryan J. Conti U. Larvick and Daniel T. Beswick and Jeffrey W. Ellis and Raymond J. Bergeson and Carla N. Shatzkes and Ehiguina L. Fontana and Daniel H. Noce and Liisa M. The Company has finance leases for certain communication equipment that expire between and The leases have terms of renewal, options to purchase the equipment and there are no escalation clauses.

There are no restrictions placed upon the Company by entering into these leases. Point of sale capital leases. The Company has finance leases for certain point of sale equipment that expire in Sale and Leaseback Transactions. Both the West Greenwich and Las Vegas facilities are accounted for as operating leases, and future minimum lease payments are included in the operating lease section in the table above. Jackpot Commitments. Jackpot liabilities are recorded as current and non-current liabilities as follows:.

Current liabilities. Non-current liabilities. Future jackpot payments due. Unamortized discounts. Total jackpot liabilities. Performance and other bonds. In connection with certain contracts and procurements, the Company has been required to deliver performance bonds for the benefit of customers and bid and litigation bonds for the benefit of potential customers, respectively.

Performance bonds. Litigation bonds. All other bonds. Guarantees and indemnifications. Penalties under Minimum Profit Contracts. The amounts guaranteed and therefore amounts owed by the Company as shortfall payments under the Illinois Contract were under dispute. The Company will neither be responsible for the payment of any other shortfall payment, nor will it be entitled to receive any incentive compensation, for all or any portion of fiscal year , or any subsequent fiscal year.

LGT is a joint venture that was formed to provide an online lottery system in Thailand. The Company is jointly and severally liable with the other shareholder in LGT for this guarantee. Commonwealth of Pennsylvania indemnification. Legal Proceedings. Legal proceedings can be expensive and disruptive to normal business operations. The Company expenses legal fees as incurred. The Company records a provision for contingent losses when it is both probable that a liability will be incurred and the amount or range of the loss can be reasonably estimated.

With respect to litigation and other legal proceedings where the Company has determined that a loss is reasonably possible and the Company is unable to estimate the amount or range of reasonably possible loss in excess of amounts already accrued, due to the inherent difficulty of predicting the outcome of and uncertainties regarding such litigation and legal proceedings, no additional amounts have been accrued. Italian Tax Matters. If the Public Prosecutor determines that income was under-reported in one or more tax years, the Public Prosecutor may choose to bring criminal charges in Italy against any or all of the above referenced individuals.

The Tax Police Audit Report covers the tax years to