Lowis & Gellen attorneys, Gerald Haberkorn, David Donnersberger, Daniel Marko and Mehreen Sherwani were successful in obtaining a preliminary injunction against a former officer and manager of a short line railroad operator. The former member recently left the railroad and shortly thereafter attempted to usurp a business opportunity that had previously been presented to the railroad. As an officer of railroad, the former member was responsible for exploring the viability of the railroad’s potential acquisitions and various business opportunities, and in that capacity the former member had a fiduciary duty to the railroad. The former member learned of this potential opportunity despite the fact that the opportunity was not publicly advertised, and not generally known within the industry. The former member formed his own company in January 2007, and began to actively pursue this business opportunity. On April 13, 2007, after a two-day hearing, the former Member was found to have breached his fiduciary duty, and he was enjoined from making any further attempt to take advantage of this business opportunity. For additional information regarding this case, please contact Gerald Haberkorn at (312)456-2701 or geraldh@lowis-gellen.com.
