Failure to State Claim

By: Derek Hawkins//March 18, 2019//

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7^th Circuit Court of Appeals

Case Name: Kurt V. Cornielsen, et al. v. Infinium Capital Management, LLC

Case No.: 17-2583

Officials: SYKES and BARRETT, Circuit Judges, and GRIESBACH, Chief District Judge.

Focus: Failure to State Claim

Plaintiffs‐appellants, 39 former employees of Infinium Capital Management, LLC, voluntarily converted loans they had made to their employer under the company’s Employee Capital Pool program into equity in the company. A year later their redemption rights were suspended, and six months after that, they were told their investments were worthless. Plaintiffs filed suit against their employer, the holding company that owned their employer, and several members of the senior management, asserting claims for federal securities fraud and state law claims for breach of fiduciary duty and fraud. This appeal is from the district court’s order dismissing with prejudice their fifth amended complaint for failure to state a claim. For the reasons that follow, we affirm.

Affirmed

Derek A Hawkins is trademark corporate counsel for Harley-Davidson. Hawkins oversees the prosecution and maintenance of the Harley-Davidson’s international trademark portfolio in emerging markets.

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