Continental Illinois Securities Litigation

Chimicles & Tikellis LLP served as lead counsel for the shareholder class in this action alleging federal securities fraud. The case was filed in the federal district court in Chicago and arose from the 1982 oil and gas loan debacle that ultimately resulted in the Bank being taken over by the FDIC. One aspect of this case involved a twenty-week jury trial conducted by Mr. Chimicles on behalf of the class in 1987. Ultimately, the class recovered nearly $40 million.